Late Stage Capitalism.
this post was submitted on 07 Jun 2023
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Technology
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There is a crisis of democracy in contemporary societies, every time that you invoke the direct power of the people, the status quo conservationists ban your participation and exclude you of most of the expression spaces.
The reddit exodus is comparatively very small. Tens of thousands of users, many of which will not stick around. Reddit has millions of users (hundreds of millions?). They barely notice.
I have to wonder just how many genuine users reddit actually has based on the amount of account harvesting that utilizes reposting content.
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Higher interest rates means less investment, resulting in these companies racing to make a profit. The reality is that Reddit is bleeding money and has been for years, and Twitter is barely profitable.
Where do you see this information on their profits?
There isn't much public information because all those companies are private. But, various journalists have looked into things and declared it isn't profitable, for example:
That has left Reddit, known as a bastion of free speech, walking a delicate tightrope between its outspoken audience of 330mn monthly active users and new advertisers that can propel it into profitability.
https://www.ft.com/content/c4c01d86-85f5-49c8-9966-cbf935d834a2
Awesome. Thanks for the follow up. Crazy how hard it is to find. I’m sure their income is enough to pay them decent wages though. Not the moderators though, screw those people
The big sites got big by being there when a previous big site died. But nothing lasts forever, and eventually a social site becomes desperately uncool because there are people old enough to have grandkids on it. And they totter on, like a zombie, until they fuck out badly, and most people leave. But not everyone, I still get linked to blog entries on Livejournal now and then, sometimes I even end up on Blogger when I’m following a trail and people are still updating some of those.
Hey, I'm still on LiveJournal!
Okay, mostly DreamWidth with an echo to my LJ. And all of my friends are gone. But it's still a damned good service. Frankly, I suggested it as an alternative to Reddit if Lemmy fell through.
The last straw for LJ for me was when they made any mention of queerness illegal so as to conform to the laws of their new home country. I logged out and never logged in again. I still get badly-translated email about anniversary gifts for my various 13-year-old accounts now and then.
I have a DW account but it lies fallow, mostly because I could never get the auto-crossposter plugin to work on my Wordpress site.
they are realizing that if they want to maximize profits they don't actually need to maximize users.
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