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This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.

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Reddit's CEO really wants you to know that he doesn't care about your feedback (9to5mac.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 1 year ago

The recent Reddit push has two underlying realities forcing a lot of companies/web services to push for other monetization:

The ad rates have cratered. The advertisers know users use ad blockers, and there will always be a whack-a-mole game going. So they've been demanding and getting lower rates.
The Silicon Valley model of throwing millions at a project for years without returns is shrinking fast. Between eroded trust (Theranos) and the investors not limited to venture capital firms, there is more and more calls for returns to be shown from these companies. They're restricting the money bucket. So sites like Reddit have to look to other ways to generate money.

Spez has been blindsided by these developments when he should not have been.