Wow, spez is taking on The Verge now? He thinks he's a lot bigger deal than he really is...
It's amazing hubris. Pride comes before a fall they say.
Pride comes before a fall they say.
[sees that Pride month ends June 30th]
GASP!
I hear fall starts for most of the northern hemisphere within just a few months of that
The man speaking in this clip is Nilay Patel. Hes the Editor in Chief at The Verge.
He also used to be a lawyer before moving to journalism full time. So he knows Bullshit when he sees it.
I used to think that The Verge were just a bunch of Apple zealots who couldn't even do a pc build video properly. They've come along way since then. Reddit would be absolutely insane to try and take on something like The Verge.
Side note , Nilay also has a podcast called Decoder where he interviews the heads of companies to get an idea of how they run and what their goals are. Its a pretty good show and I reccomend it. The one where Nilay takes on the head of Substack was hilarious
The hit piece Nilay did on Elon was fucking savage and one of the best things I've ever read on that site
Thanks for the link, that article is delightfully savage. I laughed so hard my cat came over to check if I was dying.
"A podcast about org charts."
A transcript for those who prefer to read. (using flixier so forgive the lack of speaker indication and the few corrections I made.)
Transcription:
[redd]it is very unhappy that people are talking to us.
They have decided that their official position is that they will wait for us to make mistakes and then issue corrections in order to discredit our journalism.
That's straight up what they're doing.
I know this is what they're doing because we have a statement because they told us.
They told us Tim Rami, who runs coms at Reddit. This is the blanket statement will no longer comment on hearsay.
Unsubstantiated claims or baseless accusations from the verge will be in touch as corrections are needed.
Oh, my God.
I've been playing this game a long time.
We'll wait for you to make a mistake.
So then we can correct you and say your reporting was wrong is the oldest trick in the book and we are just not gonna fall for it.
So we're just gonna print this statement in every story from here on out, like that's the way it's gonna go.
If they want us to get it right they can... They can tell us what is actually happening, but I will come back to we're gonna take the people on the ground.
We're gonna take the users.
We're gonna take the moderators.
We're gonna take the employees every time.
And if you think they're wrong, you can tell us and you can explain why they're wrong.
But we're not gonna stop because you've you're running like a 1920 press playbook.
Like whatever.
Like I'm we're just gonna burn you every time and that it's that attitude.
It's this aggressive posture where people are worried and they're coming to reporters and saying,
Here are our worries.
Here's the communication we have received that makes us feel threatened.
And Reddit's response is Shut up.
That's what breaks your community.
Thanks 😊
An automated transcription bot for linked audio or video content (longer content, interviews, etc.) would be incredibly useful.
The Verge has been covering the shit out of the Reddit death spiral and I’m so here for it. Good for them.
Same, their coverage has made me feel way less terrible about all of this. Just knowing someone is out there calling Reddit on their BS makes it easier for me to accept that Reddit is no longer a safe place for me and move on.
Don’t understand how people can still use Reddit and ignore all the ickiness.
Saying it once was enough i think.
(Or you fell into a bug.)
This just amazes me. It seems as if their blinded by power. Actually thinking they're the true and only Frontpage of the internet.
Spez here thinking that the content hosting is more important than content generation. Reddit's value to the community or advertisers is a result of the users, not Reddit Inc.
The big difference between Reddit and Facebook/twitter is that they were content moderation companies and they failed because they didn't invest enough in it to keep the platform from going toxic.
Reddit has free content generation, free content moderation and they still can't make a fucking profit.
Yahoo moment
We'll no longer comment on hearsay, unsubstantiated claims, or baseless accusations from The Verge. We'll be in touch as corrections are needed.
Setting aside the ridiculousness of this position, the statement also doesn't make sense at face value, right? I think I understand what they're trying to say, but aren't those two sentences in conflict? Isn't getting "in touch as corrections are needed" literally making "comment on hearsay, unsubstantiated claims, or baseless accusations"?
This is their “gotcha” move - if they don’t comment, it’s unsubstantiated hearsay. If they do comment it’s because it’s wrong.
"We will not tolerate any lies being told about us. If we hear any, we'll let you know."
Right, but essentially that reads that everything is true and they couldn't find anything wrong. Since they didn't contact the Verge. It's confusing because at least to me this is them rolling over and giving up.
Still waiting for spez to tell us what thatis said in private that differ from what he did in public. That's one correction I don't see his comm guy doing.
Iamthatis has spez dead to rights and is handling it with grace.
he's always been a class act
I mean. My account has been a daily driver for the better part of 17 years. The name is original enough that if I went a week or so on an alt I would get requests for takeover from others.
I haven’t been on since it all started. And I won’t close the account. Just let it sit.
Can anyone explain to me, please, how is this good (financially) for the reddit investors? I mean, I ran from reddit since I only accessed it from sync. Didn't really care for the 'politics'. Now I get here and see there's a lot more to it than just the shut down of 3rd party apps (which I understood as a financial decision). If money's the motivation for all of this, how is it financially healthy?
If Reddit kills 3rd party apps it can absorb (or at least hope to do so) users of those apps and have complete control over how they access Reddit. Reddit can then feed them more ads, trackers and whatnot, all of which would translate into more revenue for Reddit, which is a net positive for shareholders.
There's also the fact that companies training LLMs would be interested in paying those exorbitant fees to get training data as they likely can afford those fees.
So in short, Reddit likely wants to become a content farm for LLMs. As for the users, Reddit doesn't care given their recent statements. So if some c*cks stay on Reddit, spez will just inundate them with more ads because why not, free money is free money, until everyone leaves.
Maybe, the problem with old reddit is that it's as much about the comments as it is the content. Comments are hard to advertise on. Where card style scrolling content is great for advertising. Scroll a couple cards with a 20-60 second engagement, look at an ad, scroll a little more. . ..
However, I don't see this as being a great way to farm content for language models, the content engagement tends to drop significantly with the endless scrolling so my guess is that it's a short term play to prove they can sell ads before the IPO.
Reddit totally has the potential to compete with tiktok in the mindless scrolling for a much more massive audience.
They can consolidate all their users and better track their routines and serve them more mindless addicting content which advertisers love.
I expect there will be major changes to how the app works in a few months to the point it becomes completely unrecognisable. Kind of like how musical.ly turned into tiktok overnight
It's not clear to me that this decision is financially healthy for Reddit. Even aside from the consequences of upsetting a lot of users (which has already made advertisers unhappy, since they prefer to advertise to people who aren't upset; there's been a noticeable decrease in ad spending on the site lately), Reddit only makes money from this move if anyone actually pays for the API, and/or they can force more people to use the official app. Whether they get more takers for the app, I don't know. We'll find out next week. But I don't think a lot of people are going to pay for the API. Most third-party apps can't, and neither can a lot of people who might use the API for research.
Basically, only big companies can afford the new prices, and if big companies pay, Reddit will make a profit. But big companies don't become big companies by paying for overpriced commodities. API access for sites that have similar content costs a lot less than what Reddit wants. So, of the big companies that could pay, Microsoft is quietly modifying its products to avoid paying (you can't upload from their hardware directly to Reddit anymore, for example). Google is introducing a service that is meant to take traffic away from Reddit, I doubt they'll want to buy overpriced API data. AIs have already slurped up a lot of Reddit data, and can just scrape the site if they want more. The API is not the only way for bots to get access to Reddit's data, just the easiest. Probably someone is going to pay for API access, at least in the short term, but I really don't see this going well in the long run. People just don't buy products that cost more than they're worth. Even if Reddit's data was worth the inflated price they're asking, the API is not the only way to get that data. And I am pretty sure it's not that valuable to anyone except the people who can't afford it.
Third party apps are the only ones who need API access to survive, and therefore the ideal customers for Reddit's API, but Reddit would rather fish for the customers that aren't there than do business with the customers that are. Or, were, until a few weeks ago. Now--not so much. Christian Selig could have put a significant chunk of change in Reddit's pocket on an ongoing basis if they'd negotiated a decent price, since Apollo was doing well, and Selig wanted to work with them, but no, Reddit had to ask a price Selig literally couldn't pay, so Reddit gets nothing, users lose Apollo, and no one is happy. Infinity is going to try to make it work, but I doubt that'll be much money for Reddit, and I doubt it'll last more than a year, tops.
To be fair, in theory, charging for API access would give Reddit an additional revenue stream, which is probably what Huffman told investors. But no company that actually makes money from selling API access does it at this price point, or without, y'know... trying to keep customers instead of chasing them off. This is how Twitter did it, and Twitter is losing more money on a regular basis than Reddit has ever made. But it's not my business, so what do I know... [/Kermit drinking tea]
Don’t understand how people can still use Reddit and ignore all the ickiness.
For real. My brother is one of those people who is like “they aren’t gonna die from this so why should I care blah blah blah”. He thinks if protesting won’t have the immediate impact that people want then those no reason for it to happen
Effective protest means accepting going without and inconvenience.
In an instant gratification society, that is anathema.
Man. Nilay's ego can be a bit irritating at times, but he's damn good at holding brands to account. Their editorial policies around background information, NDAs and transparency are likewise much stronger than lot of publishers these days.
Don’t understand how people can still use Reddit and ignore all the ickiness.
Burning bridges....
Throwing everything out of the pram
Oh, that felt soooo good to watch.
Don’t understand how people can still use Reddit and ignore all the ickiness.