• Lvxferre@lemmy.mlM
    link
    fedilink
    English
    arrow-up
    21
    ·
    1 year ago

    There’s something that feels really off for me here.

    Reddit Inc. could’ve handled the powermods problem years ago; and if did, the userbase would actually support its decision. Yet it decided to do it alongside the API changes, the one timing that would make the userbase side with the powermods. Why?

    Note that, if Reddit will pull out the “I am the Senate!” card, there wouldn’t be a need to wait for a protest to get rid of the powermods.

    Even the API changes. They could’ve been implemented gradually, over time, playing along with the third party app devs, and then rising the prices until they become unreasonable, killing them as boiled frogs. But instead they decided “we’re going to lie, and we’re going to make our lie obvious”. Why?

    The IPO itself is being planned for years. It is simply not news. If all of that is somehow preparing for the IPO, why is it being rushed now? And in a way that it makes the business look less profitable instead of more - anyone can see that Reddit won’t last long, and anyone buying Reddit shares will be burning money.

    And we can’t really claim that it’s just Steve Huffman being a moron. He is, but a moron not backed by the business would have his moron butt kicked out.

    It’s almost like something happened in April or May that made them rush this all. But what would it be?

    Or perhaps they’re using Huffman as the piranha cow, to implement unpopular changes? And then they’d force him to step down, put another CEO in his place, and say “now everything is better”, while not reverting the unpopular changes. But this kind of trick doesn’t work twice, they already did it with Pao.

    Alternatively, it could be a sign of fracture and struggle within Reddit Inc… What would it be?

    TL;DR: we’re missing critical pieces of information here.

    • Dick Justice@lemmy.world
      link
      fedilink
      English
      arrow-up
      12
      ·
      1 year ago

      He’s just emulating Elon because he wants to be a billionaire too. i dont think theres aany 4D chess going on.

      • Lvxferre@lemmy.mlM
        link
        fedilink
        English
        arrow-up
        3
        ·
        1 year ago

        He might be LARPing as Musk, but why is the company playing along? Do they really think that Spez is going to make Reddit Inc. more valuable for the IPO?

          • Lvxferre@lemmy.mlM
            link
            fedilink
            English
            arrow-up
            2
            arrow-down
            1
            ·
            1 year ago

            Chairmen are usually elected by the shareholders, with a weighted vote - if people holding more than 50% of the shares voted to replace spez, then spez would be out. In this case it means that either a lot of shareholders in Reddit agree with spez, or that the most powerful ones do it.

              • Lvxferre@lemmy.mlM
                link
                fedilink
                English
                arrow-up
                2
                ·
                1 year ago

                IIRC the biggest shareholder is Conde Nast(y). They’re also behind Wired and Ars(e) Technica, that have been criticising Reddit’s decision, so I don’t think that they’re too happy with Spez.

                But yeah, it’s corpo-marketing all the way - from corpos, to corpos.

    • goat@sh.itjust.worksOP
      link
      fedilink
      English
      arrow-up
      9
      arrow-down
      4
      ·
      edit-2
      1 year ago

      Maybe it’s due to the Ghislaine Maxwell appeal, making her appeal public in late March, early April.

      For those unaware, there’s quite a convincing conspiracy theory stating that the first user to hit 1 Million Karma and the first power mod was Maxwell herself.

      Consider Reddit’s history of CP and Pedophilia within their admin team;

      • /r/JailBait

      • Numerous counts of pedophilia throughout the Powermod and Admin team

      • Extensive history of ignoring CP on their website.

      • Aimee Challenor


      Or because there’s a global depression coming up, and all the big cats are now cashing in. Who knows! :v

      • Lvxferre@lemmy.mlM
        link
        fedilink
        English
        arrow-up
        2
        arrow-down
        1
        ·
        1 year ago

        If your first reasoning is correct, then odds are that they’re rushing the IPO before some new scandal blows up, and they’re led to believe that it will blow up soon. I wonder if there’s some reasonable / legal way to dig through this.

        If it’s the second reasoning, then raising uncertainty and doubt over the brand should make their shares cost less than toilet paper. Thankfully they’re already shooting their own trotters with this, but we (we = anyone, really) could encourage it by advertising Reddit as just a fancy pyramid scheme behind a forum system.

          • Lvxferre@lemmy.mlM
            link
            fedilink
            English
            arrow-up
            1
            ·
            1 year ago

            Or we could promote its demise 😄 😄 😄

            I’ll probably [not sure] work tomorrow on the second version of the Razit flyer + text, to account for both things. Like, suspicious associations between Maxwell and Reddit, plus telling people that the boat is sinking.

      • bobthened@feddit.uk
        link
        fedilink
        English
        arrow-up
        1
        arrow-down
        1
        ·
        1 year ago

        I’ve heard of that conspiracy theory before, but never looked into it. That collection of evidence is quite damning…

        Obviously it’s impossible to say conclusively – and the only people who would be able to find out the answer are the reddit admins.

      • Lvxferre@lemmy.mlM
        link
        fedilink
        English
        arrow-up
        3
        ·
        1 year ago

        Petition to mix lighter fluid with horse shit. Burning isn’t enough, it needs to stink!