Reddit CEO tells employees that subreddit blackout ‘will pass’ (www.theverge.com)

submitted 1 year ago by Kara@kbin.social to c/RedditMigration@kbin.social

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Spez, and Reddit as a whole is basically counting on most subreddits opening back up tomorrow after the 48-hour period.

Really hope that mods can hold out for longer, make them really panic.

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[-] SmolderingSauna@kbin.social 1 points 1 year ago

This just in from forbes.com:

"Investors are fed up. Fidelity, which led Reddit’s $700 million funding round in 2021 with a $10 billion valuation, has cut its Reddit company valuation by 41% since it invested. This could scupper Reddit’s plans to eventually go public with a reported valuation of $15 billion."

https://www.forbes.com/sites/qai/2023/06/13/redditors-go-to-war-with-the-company-as-it-enforces-eye-watering-prices-for-reddit-api/

Who actually loses a game of chicken of this magnitude?!? u/spez, you listening?!?

[-] kai333@kbin.social 0 points 1 year ago

The surefire way of getting your ass in trouble: Pissing off rich, powerful people.

That said, it would be such poetic justice if WSB somehow ate reddit's tail because of this.

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this post was submitted on 13 Jun 2023

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