“They’re shooting themselves in the foot,” Mir says. “The content of the users is what makes the platform worth visiting. These hosts kind of run into this confusion that their hosting is the reason people are going there, but it’s really for the other users on the medium.”
What really did it for me was Huffman’s quote on how “Reddit users, communities, and discussions are one of the largest data sets that cannot be given away for free” (summarized quote).
The rumored IPO made an entire corporation do a 180 so ruthlessly and clumsily in a way that I have never seen. It’s destroying itself and rightfully so.
Fidelity dropping reddit’s valuation by ~40% made me go “oh boy that’s bad news” when I saw it at the start of the month.
Imagine thinking you’re cashing out at 10 billion and now you’re only getting 6. The horror.
I honestly can’t believe he’s being so egotistical about it. Insults mods as “landed gentry” and users’ concerns as “noise” - those are literally the people that have created this “valuable dataset” he’s coveting so greedily.
That’s why I nuked all my posts and edited every one of my comments to point to kbin / lemmy before deleting my account. They may revert my changes, but I at least wanted to try to prevent them from benefiting from me in any way.
Except that it already has been. They’ve already scraped it, and can refer back to either the archives, or just scrape Reddit like they do with other websites if they want to pull more information.
They didn’t pay before, why would they bother paying now? Worst case is that they just exclude Reddit (like they did Twitter), and train from other sites instead. It’s no great loss.