After the API implosion, so many active and posting users quit that the gap was filled with mainly bots.
Whether intentional or not, this gave the impression that Reddit was still active on paper… The numbers said there was no significant change after the exedous.
When the Reddit admins figured out that a large portion of the site is now bots, they decided to chase the money before the site tanked completely.
This led to Reddit trying to cash in on the remaining users with more ads than ever, cash in on their advertisers, and cash in on the platforms (until recent) good image. Most people have at least heard of Reddit at this point, so going for an IPO now, when almost everyone knows that it exists, and only regular Reddit users are really aware of the enshittification happening. So they can demand a high price for the IPO, and collect a bunch of money before the enshittification is more well known, and the company tanks.
When the Reddit admins figured out that a large portion of the site is now bots
Just fyi, bots use API calls. Thus, Reddit has ALWAYS known exactly what percentage of users and posts are bots, and which bots are Reddit’s own.
And it’s not the first time. You could almost say it’s what Reddit is built on. When Reddit was first launched, the founders used alts to build numbers; now it’s bots.
My own personal view is that they’ve used bots all along. More recently, they made up for drastically reduced numbers last summer with bots, and that’s when the writing was really on the wall for Reddit because at some point it becomes a serious legal liability to continue to sell ad space and accept ad money based on numbers of users and posts that simply do not exist in reality.
So the IPO has to happen sooner rather than later, and RDDT will tank as soon as it goes public, which is why they’re trying to sell the rubes as many shares as they can at a guaranteed pre-IPO price: that’s free money for them, which they will take and go while Reddit implodes.
Here’s a theory…
After the API implosion, so many active and posting users quit that the gap was filled with mainly bots.
Whether intentional or not, this gave the impression that Reddit was still active on paper… The numbers said there was no significant change after the exedous.
When the Reddit admins figured out that a large portion of the site is now bots, they decided to chase the money before the site tanked completely.
This led to Reddit trying to cash in on the remaining users with more ads than ever, cash in on their advertisers, and cash in on the platforms (until recent) good image. Most people have at least heard of Reddit at this point, so going for an IPO now, when almost everyone knows that it exists, and only regular Reddit users are really aware of the enshittification happening. So they can demand a high price for the IPO, and collect a bunch of money before the enshittification is more well known, and the company tanks.
IDK, but that seems to be the way of things.
Just fyi, bots use API calls. Thus, Reddit has ALWAYS known exactly what percentage of users and posts are bots, and which bots are Reddit’s own.
And it’s not the first time. You could almost say it’s what Reddit is built on. When Reddit was first launched, the founders used alts to build numbers; now it’s bots.
My own personal view is that they’ve used bots all along. More recently, they made up for drastically reduced numbers last summer with bots, and that’s when the writing was really on the wall for Reddit because at some point it becomes a serious legal liability to continue to sell ad space and accept ad money based on numbers of users and posts that simply do not exist in reality.
So the IPO has to happen sooner rather than later, and RDDT will tank as soon as it goes public, which is why they’re trying to sell the rubes as many shares as they can at a guaranteed pre-IPO price: that’s free money for them, which they will take and go while Reddit implodes.