Most likely reddit is holding out till the IPO. Getting a new CEO beforehand would cause some chaos. Stability is what saves valuation. Reddit's recent instability is what is messing with its worth.

Then reddit can blame everything on their scapegoat: spez. The old CEO gets a nice severance package for acting like the villain reddit needs till all the new changes are in place. Even if the CEO was not the only one making these decisions.

The new CEO will remove a few of the harsh changes reddit recently made; but not all of them. The people then rejoice as the new CEO is "nicer" than spez and the evil villain is gone.

It's not like reddit can ever go back to the way it was; it wasn't making enough money to please its stakeholders. The preceding sentence is why the fediverse is so important.

I can't believe Steve Huffman (u/spez) is acting like this before an IPO. An IPO usually means a board of directors. Usually, the CEO reports directly to the board of directors and serves until they decide they need a new CEO. Forget third-party apps for a second, Fidelity has further slashed the estimated worth Reddit. Users are protesting against the site's leadership. Porn bombing has brands concerned about advertising on Reddit; see https://techstory.in/... He's tarnished Reddit's image. The sooner they do an IPO, the better as Huffman will become the artist formerly known as CEO.

I made my decision to leave as soon as I saw how the app devs were treated. Been back only to edit all my comments to state what I think about spez & co. I’ve simply been waiting to add my little weight to the end of month exodus.

IDK but we are close to finding out. In my experience people are generally bad at preparing. And only react when absolutely necessary.

I decided to leave when I saw how they removed entire moderator from subreddits. Abhorrent behaviour and completely unhinged. I was modding at r/steam for 7 years. Is this how you treat dedicated people to your platform? This shattered the relationship between users and Reddit admins to me. I only removed my account yesterday until they finally hit nail in the coffin with going forward to kill off third parties. I never really used Apollo TBH, but it’s the intent behind what they do that matters to me. Haha.

I wish I had had the time to fully switch sooner. But my life has been nuts, so I'm now scrambling between calls to get into the swing here.

Which is all just to say, some folks live crazy busy lives and can't switch as soon as others.

But also when I was initially going to switch, I was reading that kbin and Lemmy were getting overwhelming traffic, so I wanted to wait for that wave to calm down and ensure the hosts were able to keep up/recover

I was one of those people; the man reason being the lack of the less popular subreddits (magazines/communities?) on here. Some of my most visited spots on Reddit just don’t exist here. If I’m being honest, I don’t wanna make and mod them either. I’d partake in them, but running one isn’t in the cards. I just don’t have the time. I think those less popular subreddits are the ones that will hurt the most leaving behind.

I deleted my reddit account after about ten years due to the recent scandals. I think many others did so, too. Reddit is worthless already.

Why would we expect people to leave? Look at how many people stayed on Twitter and are still there. People can get used to a lot of bad stuff in exchange for doom-scrolling dopamine.

I wonder if there are a lot of people, average users, that just aren’t in the know, and will only realize the third party apps are gone when they’re physically gone.

They wanted to put me behind a paywall, I wouldn’t have mind to be treated like a cheap hoe. Why you valuing me at 10b, baby, I just wanna be rent free…

Tomorrow the power users leave

Today the app users are forced away.

We can already see lemmy.world has grown 15% or 8k users in half a day. If that's representative, the coming days will be worse for reddit than the blackout and protest period.

That was what I meant, that for reddit the shit hits the fan today for real, as in the consequences of their decision will hit harder when they are actually implemented.

I'm pretty sure I saw it valued at 10 bil 14 days ago.

Tech has gone down, then up again, since august, for instance alphabet is higher now than back in August.

https://finance.yahoo.com/quote/GOOG/

I’m not expecting people to leave in droves, but I imagine that as the quality of content, moderation, and overall tone declines a lot of people will gradually lose interest and stop visiting.

Aha yes excellent ‘punne’, or play-on-words

For what it's worth, I didn't have many issues with Power Delete Suite