this post was submitted on 21 Jun 2023
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Technology

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[–] Shhalahr@beehaw.org 34 points 2 years ago* (last edited 2 years ago) (5 children)

CEO Steve Huffman told me in an interview last week, “90-plus percent of Reddit users are on our platform, contributing, and are monetized either through ads or Reddit Premium. Why would we subsidize this small group? Why would we effectively pay them to use Reddit but not everybody else who also contributes to Reddit?”

It's called a "loss leader," Steve.

Dude's sounding like the kind of guy that cuts IT, security, and janitorial because they don't bring in revenue. But then, he did say he's following the Musk model. Which is, basically, that.

[–] Dusty@lemmy.dustybeer.com 17 points 2 years ago (2 children)

90-plus percent of Reddit users are on our platform, contributing, and are monetized either through ads or Reddit Premium

I wonder how many of those reddit premium members have cancelled their subscriptions. I know I did. I had premium for years as it seemed like a good way to give a little bit back to a site I was using multiple times a day, every day. As soon as Spez started his bullshit I cancelled it and won't be back.

[–] Shhalahr@beehaw.org 7 points 2 years ago (1 children)

Same here. Cancelled the day the blackout started as sort of a personal statement. Not that I expect that statement to be heard by anyone.

[–] reric88@beehaw.org 3 points 2 years ago

And I hear you!

[–] lightrush@lemmy.ca 4 points 2 years ago

Same here. It's the least I could do.

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