I hope reddit advertisers can see this. Why would you want to be associated with a site that discriminates against the blind?
this post was submitted on 01 Jul 2023
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they already lost 4.5bn because of this. Their valuation was cut down to 5.5bn from 10bn just the other day
And if I remember correctly that value cut was from before all this happened so it’s probably fixin to drop even more
Here's hoping. (yeah, I'm an unreasonable, hateful bitch. I despise what they did with the Apollo dev (and others) and I hope it bites them in the arse.)
I wish it lives. May we never forget Aaron's dream for the platform. May we never forget it. It's my goal in life to carry on in his and other's footsteps so we may use what we have made to help others.
I think if he was still around, he’d be all for ActivityPub and stuff like Lemmy/Kbin.
He definitely would have been all about ActivityPub, if not involved with bringing it about. Still amazes me that he was one of the inventors of RSS, arguably a proto-ActivityPub.
https://techcrunch.com/2023/06/30/fidelity-deepens-valuation-cut-for-reddit-and-discord/
Valued at 10 billion when fidelity bought an ownership stake in 2021.
Currently they estimate Reddit is worth 5.6 billion
Well done team, I bet the investor calls are going great!
How it started: what if we built a platform where people create and moderate the content, but we just make all the money?
How it's going:
That’s not them actually losing money, though. They’re a private company, not a public one. Their valuation is just what analysts think that they’re worth—it has nothing to do with how much money they have.
But valuation is a very real predictive measure on IPOs, and what Reddit is making all these bad decisions in preparation for. They tried to cut a little more pie by dragging third party app users onto their app to try and increase revenue and bump valuation, it's just that it was so terribly misguided and executed that it had the opposite effect and blew up in their face.
Private companies (which is most businesses) are still worth something. If big investors like Fidelity value your business at $1bn, banks will absolutely consider that as collateral for loans and so on. And if they say your business has halved in value, they’ll consider that too.
True, but the valuation is for investors and per fucknut, Reddit isn’t making any money, hence the api push to a paid platform.
Also, Reddit is going public soon when they IPO and investors aren’t going to want to invest in a bot ridden, non active community.
I’d say 75%+ used Reddit on their phones and many of them used 3rd party apps.
The point is, Reddit IPOing soon and then this fiasco is the worst thing for them.
Only 5.5 billion more to go
Buy shorts? Buy puts?I need some ill advise, where's wallstreetbets when you need them?
We need an unethical life tips here on how quickly we can bankrupt reddit
Check sub.rehab
There have been reports of the traffic to their advertising portal dropping by about 20% over the past month
I'm actually surprised that metric would change much, because the users viewing ads aren't impacted by changes to the API or third party apps. So that's literally just 20% of people who either stopped using the site in solidarity or couldn't get to their content because of the protests.
It’s not out of solidarity, advertisers are worried they’ll turn into lightning rods: https://www.adweek.com/social-marketing/ripples-through-reddit-as-advertisers-weather-moderators-strike/
u/Spez really didn't take the community seriously with the protests which has lead to this mass exodus. Crazy how they killed their platform so quickly with the writing on the wall in neon bright colors.
As someone with partial blindness, this is very pathetic of u/spez!
Things are getting worse. Some subreddits like /r/breastfeeding, which were private from the start, are now being forced by Reddit to make their subreddits public. It's completely stupid. r/breastfeeding NEEDS to stay private to keep creeps and weirdos away.
I read the thread and I kind of cringed inside. I understand the moderators of r/blind want to keep the resources & information accessible but they actually tried to negotiate and sort it out with Reddit according to their words and Reddit just didn’t give a fuck about them. What I would’ve done is just nuke the sub and move to Lemmy yet they continue to eat shit from u/spez
I feel for them.
r/Blind is still a valuable resource for many people. No sense denying people access to it. r/Blind mods already created a Lemmy instance which they try to promote for their members. But learning new software can be challenging when you can't see, especially if the software isn't very accessible.
r/Blind is still a valuable resource for Reddit to exploit many people, especially blind people.
It's not like Lemmy has great mod tools.
I've not looked for myself, but does Lemmy or Kbin have good, accessible tooling? They're both much more modern so I would expect that it would be a priority, but they're also much less mature so I wouldn't be surprised if little in that way has been implemented yet.
Someone needs to start a "campaign" for naming and shaming companies who advertises on Reddit. "[This company] supports a company that actively discriminates against the disabled. #SayNoToReddit"
honestly yes. While I do think "ableism" is sometimes took to a bit of an extreme, in this case it's good... and serves the good purpose of making Reddit even less money, which is a good purpose in and of itself!
What's so stupid is that they don't even have to do that. alt text can be fucking handled by eslint and a pipeline checker. This is basic devops. Reddit has 1400 employees, wtf are they doing?