From what I’ve read, they’re not hurting from any of this at all. It’s all back to normal. Which is very disappointing.
this post was submitted on 02 Jul 2023
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I would have been ok if Reddit charged a reasonable rate for its API, even if it was based on having a form of Reddit premium. But the point wasn't that Reddit was charging, it was that Reddit made the price so high that it was wasn't worth it.
Their revenue model seemed fine with awards. Brilliant model. Value out of thin air. I spent maybe $5/mo on awards.
Seeing the content itself as the product was a mistake for reddit. It’s like charging people for silverware at a restaurant.
Use of the API, just like use of the HTTP servers, drove engagement and engagement drove awards sales.
Just like the use of silverware drives meal purchases at a restaurant. Reddit charging for the API is like a restaurant charging to get the menu texted to you.