I should begin by mentioning that I am (was) a moderator of three subreddits: one large subreddit, one NSFW subreddit and a medical-related subreddit. After u/spez's calamitous AMA, I joined Lemmy and haven't looked back. I am really enjoying the Lemmy/KBin vibe. It is very much an alpha (almost beta) product and the ad free, corporate free, decentralized nature of the fediverse has a thrill of its own.
Over the past couple of months, Reddit has done everything it can to show its moderators that they are low-value and easily replaceable. They've done this by removing technical tools, killing off third party applications, crippling API changes and jaw-droppingly bad public relations. Heavily used products like /r/toolbox are no longer being actively developed. When Reddit API implements a breaking, non-backwards compatible change, that tool will also die.
Yet the moderators of Reddit continue to moderate. They stay and help Reddit build Reddit. They continue to work for free; to allow Reddit to make money off of their work despite being abused. When I see things like the comment section on this post, I no longer feel sorry for the Reddit moderators still on the site. I see them as a sad, sorry group who cling to the false hope of a corporate turnaround. They could leave Reddit. They should leave Reddit.
These moderators are in an abusive relationship with Reddit, Inc. I might understand the argument, "we built this community, we can't just abandon it". But would you give the same advice to someone else in an abusive relationship? I get that the analogy between the mods and the corp is an imperfect one, yet it is similar enough to be valid, in my opinion.
Moderating is really hard. It is hard and thankless and never-ending. Finding good moderators who can handle the marathon nature of the gig is incredibly difficult. If Reddit moderators were to delete their moderating bots, downgrade their automod "code" and dial back their modding efforts to 5 min/week or less, it would materially hurt Reddit as a product.
The sunk-cost fallacy is a real thing. If the Reddit mods understood this, they'd take their talents elsewhere. But as long as they continue to help Reddit build Reddit, one shouldn't feel sorry for them.
They could leave. I did and I've never been happier.
This is just the start. Once Reddit IPOs and we hear how many tens of millions spez made off the backs of mods and power users, more will start to question why they are doing unpaid labor just to make spez rich. There is a fundamental problem with trying to make bank on volunteer labor, and we're just starting to see it begin.
This is precisely why I quit. I'm still on reddit because the conversation volume on Lemmy is not yet high enough to keep me on top of a few select subjects I follow.
I only moderated one (significant) community - about 30k. All I really do is maintain the bot to control spam. But, I quit. I'm still there, I just refuse to do anything to make the experience any better than it is, and it will slowly degrade over time from my inaction.
Capitalism is great in that it creates great things. Capitalism sucks because it ultimately, inevitably destroys every great thing it creates.
Spez will have his millions then and not care one jot about those who, post his big payday, "question why they are doing unpaid labor just to make spez rich".
For him there will literally not have been any "fundamental problem with trying to make bank on volunteer labor" as he will have pulled it of and come out of it filthy rich. For any sucker that buys Reddit stock at the public IPO price, that will be different, but Spez himself wil have won.
So the only way to actually punish him for his actions and deter other sociopaths from doing the same thing in the future is to damage the brand well before any IPO.
He'll still have plenty of stock and CEOs get paid in stock options. But anyway, spez doesn't have to care, my point was that Reddit mods will question and many will.