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this post was submitted on 05 Aug 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.
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Causing permanent damage to your platform is an interesting definition of winning. I occasionally do a drive-by on some of my old subs although I haven't commented or voted on anything in some time. The pace on big subs like r/news and r/politics is markedly slower than it was three months ago. There are fewer threads and I have the impression that there are fewer posts per thread as well. Looks like many of the mods who have been booted are being replaced with people who mod 50+ subs, so basically the subs will be completely automoderated. I'd expect to see a lot of bad mod calls and little in the way of a nurturing atmosphere which isn't going to help matters. The enshittification continues.
If you look at the default subs maybe, but I no longer subscribed or had blocked most of the big ones over the years so my subs throughout the protests had normal nondisruptive activity. And I think for lot of long time reddit users it was the smaller subs that kept them around due to being able to find many different subs for their interest.
So I don't think the protest was as disruptive in the long run. But, it did at least create a small reddit alternative with a more broad appeal than the type of individuals that drew them to Voat. And I don't see reddit pushing away its current very large userbase away unless they do more crazy things. What comes to mind is getting rid of old.reddit and disabling RES functionality, but even that is a niche demographic of reddit's main target audience.
Reddit demographic in large is vocal but lot will not actually be a threat to leave.
Reddit has lost 2/3 of their valuation in less than a year, and that was before the protests. That’s not a success kind of metric. And that number is from the institutional investors saying how much they’re marking down their investments - it’s not like some people trying to tank the stock.
Basically, the metrics which have not not all been made public have made the people and institutions with a collective billions of dollars already invested in the company are the ones saying it’s in the basement.
However a LOT of that was from being over-inflated in the first place from during the pandemic when everything Internet was up, vs. now when everything Internet is a bit down. I agree that there is still a story there, about greed and how Huffman probably could have gotten his IPO if he hadn't held out for even more above what it was worth - one bird in the hand being worth two in the bush and all that.
But that is a slightly different story than what we all are dying to know: what is the devaluation since the time of the protests? And that in turn is complicated by e.g. traffic statistics somehow going up since that time (how much of that is due to activities of people deleting their content though? each and every API request for deletion, and especially additional requests for overwriting, plus more besides to monitor the situation e.g. confirm removal, all count as "traffic", which I'm sure Reddit will still label as if due to positive rather than negative interest in the site and thus present to advertisers as "user engagement"; plus separately how much traffic has been added from
other types of bots in general as well?), and then ofc r/place just so happened to obscure any traffic stat effects lately... awfully convenient timing for that, one presumes...
It will be interesting to see what that number is, when it becomes available.
They won against the protests; the protesters couldn't enforce the demands. However the permanent damage that you're mentioning is what makes it a Pyrrhic victory.