Now imagine that this station is located on a busy intersection surrounded by multiple other stations.
Reddit is just a dumb pipe; its only real value came from its users. Management doubling down on its increasingly undisguised hostility towards those users doesn't scream "growth" to me.
Of course, just because they raise the prices on their API, doesn't mean enough companies will pay for it, to make them profitable. Just because they are forced into these measures (assuming for the moment that's true), doesn't mean that (unpaid) moderators will want to continue doing the job (in enough numbers) to keep things running.
In other words, like cheap Uber rides, it may be that Reddit was never actually a viable business, it just looked enough like one that it caused investors to keep shoveling them money?
There also isn’t going to be another diggv4-like collapse where a new community just totally eats an old one. Even if the fediverse takes off, Reddit is still going to be very active in ten years, it has so much inertia now. The question is its trajectory and it’s IPO price.
