this post was submitted on 14 Jul 2023
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Reddit Migration

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Coincidence that Reddit and Twitter are taking the same approaches to monetization? (lemmy.ml)
submitted 1 year ago by HughJanus@lemmy.ml to c/RedditMigration@kbin.social
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[–] HughJanus@lemmy.ml 15 points 1 year ago (2 children)

I mean what makes far more sense is that interests rates have skyrocketed, which means VC money dried up, which means these platforms that haven't made money in over a decade suddenly have to figure out how to run themselves.

It's not just Reddit and Twitter, it's YouTube and Twitch also.

[–] Brkdncr@kbin.social 10 points 1 year ago

It also might have something to do with the people running the show are now being tasked with real work and it turns out they aren’t good at their job.

[–] nicetriangle@kbin.social 3 points 1 year ago

Yeah I think this is the Occam’s razor explanation that makes more sense. And why might Reddit be doing such a similar thing so soon after twitter? Spez has said he’s in touch with Elon and admires his business decisions. Simple as that.