I just posted it elsewhere, but that's only the beginning. They also announced their intent to turn reddit into an even more ad-infested hellhole than it already is: https://www.redditinc.com/blog/investing-in-what-makes-reddit-unique-introducing-contextual-keyword-targeting-and-product-ads
This is the future of reddit everyone - abandon all hope ye who clicketh here: https://www.redditinc.com/assets/images/site/image2.gif
Unlike some of the 3P [third-party] apps, we are not profitable - Steve Huffman, Reddit CEO
Translation - we don't have control of the 3PA and they are getting in the way of moooore profit, so we want them gone.
What a shitty job at astroturphing there.
"Won't someone think of the corporations! The evil third party apps (that we admitted were less than 10% of our userbase) are (somehow) bankrupting us! They're using so much API (even though our website uses at least 5x the API calls)
[Translation: There's 10% of the people we could shove ads in front of who are getting around it and I want to sell this sucker so I can buy another vacation property]
and here i was, truly believing that they would reconsider. as of right now ~4000 of the planned 6600 subs have gone private, if that isn't enough then oh well
Note that these are just quotes from the disastrous AMA he held last week, not new comments that have been made.
"Hold on, dear investors! I'm confident that we can simply steer our ship straight through the middle of the massive iceberg!"
Ironically, had the titanic hit the iceberg straight on it probably would have survived. Swerving at the very last moment was what made it sink.
I'm not going back despite reddit sticking with API changes.
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