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Reddit's CEO's Response Is What No Leader Should Ever Do
(www.inc.com)
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this post was submitted on 20 Jun 2023
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What was the plan here? How the hell did he manage to fuck up the site so bad without anyone telling him, "Hey maybe this isn't such a great idea?"
I doubt he would listen to anyone, and it seems like there was no plan at all to conceal the fact that they just wanted to kill all the apps and push users to the official one.
This whole lie about 'we only want to make money on people using our data for AI' is bullshit and they know it, they could have easily locked down the API and then charged different rates for different companies depending on their intended use. But lumping it all in the same cost structure let's them get away with killing apps entirely.
The worst part is that he could still save them. I figured out a way. All that needs to happen is for reddit to act like a car dealership and offer a 30 year loan to the app developers for the first year. Deadlines don't even need to change, but apps like Apollo can run as they are for another year with the reddit loan (perhaps minus the free users), giving time to update the annual billing to the higher prices necessary for the apps to survive. And of course they'd have over a year to implement any changes, which hopefully would be enough. $20million over 30 years, even after accounting for interest that's probably less than $1million. So charge users a price that nets $21million a year and the apps can all survive.
Everybody can win, even reddit would - I'm sure the massive influx of cash would help get them a massive IPO. (They can securitize and sell the loans off to get that money earlier.)
We should give up any illusion that this was about helping the apps, or about LLM.