this post was submitted on 16 Jun 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.
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I think it's just the feds raising interest rates "forcing" all the internet companies operating at a loss to determine that now is the time to yank the carpet.
They've been using their free-flowing access to easy, low-interest capital to expand as rapidly as possible to insert themselves as broadly into people's lives as possible, so that the profitability is maximized when they decide to flip into exploitation overdrive.
You can see this happening with Twitter, Reddit and Google seemingly all at once.
Totally get that’s the reason why the business choices are being made.
The thing I’m noting is the counter productive tone being taken. If spez/Elon/etc would tweak their tone they’d likely be much more effective in pushing these things through (imho)