What I hate about that is that this hurts anyone looking for information just as much or more than in hurts reddit itself. I've stopped using reddit's feed and general participation, but there's still alot of valuable information on there that helps me and others in their daily life. Destroying the content feels like burning the books in a library because the library introduced an unpopular policy.
mrgreywater
joined 1 year ago
But he has so many better options. He could listen to his userbase and create a product they enjoy. Then explain his cost and ask for donations on the site (with a progres bar as wikipedia does). If you have goodwill in your userbase, you could even just ask people for money in a monthly fashion and give them some "Reddit Supporter" badge. Maybe a "Reddit Supporter" can then vote on the functionality that will be implemented in reddit.
If he'd communicate it well, he could even monetize the API fairly (let's say 1-2x the ad revenue he would get with similar traffic) or monetize it on the user side (user has to pay e.g. $10 for yearly api key).
I can say for myself I'd be more than willing to donate to reddit if they asked for it and I had the feeling they were actually trying to listen to the userbase and improve the platform.
With his current behavior he's just destroying any good-will of the userbase and therefore any direct monetization potential.