this post was submitted on 19 Jun 2023
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Malicious Compliance
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I give Reddit two years left with how things are going. Most of the active community will be moving on by the end of this year. All this protest in action will definitely hurt their chances to IPO successfully. Even if they backtrack on their API promise, it's much too late. The damage is done. I hope spez thanks Elon Musk for the amazing business inspiration.
If they were going to backtrack, the time would have been a week ago.
At this point, they’d need to kill the paid API plan and start paying the content creators…
Any IPO will need to be without Spez. Not a chance that institutional investors will want Spez in charge. Spez has flagged himself as a risk to the business and proven he can't manage risk himself, and worse, that he's liar. Before this fiasco I was considering buying Reddit stock, now I view any potential IPO as inherently risky. I don't trust Spez as a CEO; he doesn't understand his business model.