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The big difference with Lemmy is that it's not really a service, it's a open protocol and standard, like email, or http. The service itself is provided by distributed instances that adhere to the protocol. Like those protocols, no one company has been able to get a monopoly on it. Some have taken over a lot of it, like Google with Gmail, or cloudflare, but if you don't want to work with them there are a ton of other options you can go with, and you will not be locked out of the system if you do.
Reddit was a centralized closed source system so if you don't have a Reddit account then you are locked out of the system completely.
Lemmy is decentralized so no one instance has or can gain a monopoly. If you want to break ties with one instance you can just switch to another one and still participate with it and the rest of the fediverse.
Not only does that give you choice in a worst case scenario, it also keeps all the instances on their toes because they don't have dictatorial control over their users.
Spez's fatal miscalculation was that he thought he had user lock in, but unlike other social networks where it's your only option to keep in contact with your real life friends, or it's the only platform your favorite creator posts on, they had neither. Almost all accounts were not connected to your real life and posts were mostly links to other platforms. Very few creators had Reddit as their sole posting platform. The interactions were ephemeral and superficial. Dropping Reddit was the easiest service I ever had to drop.
This is a great analogy. It would be like asking what happens when someone tries to monetize email.
All the users would jump ship to another one immediately.
Most email providers are monetized. For most providers you either pay a subscription or they inject ads. The important thing is if they get to greedy and start providing a bad service you can switch providers.
Email services are monetizable, but email itself cannot because it's not a tangible thing, it's an idea and agreement to follow that idea.
Oh, I guess I've never noticed lol. Does Gmail have ads?
Yup! But they put them in the promotions tab so they kinda blend in with promotional emails and they're presented very natively. The only way you can tell the difference is a little ad symbol.
They can't over exploit their users because users have choice. Back when Gmail first came out there was a rush between companies to provide the most storage and features and that's because email being an open standard inherently encourages competition!
I'm fairly certain ads in google search are affected by email content.
The Android app does, at least in some sections ("Social", f.e.)