News for hackers. Stuff that matters.
Re:Reddit Strike Has Started by GolfPopper on Sunday June 11, 2023 @02:09PM (#36283932)
I think there's a fundamental conflict, in that these network effect businesses are terrible as for-profit businesses. They're of great value to those who use them, and indirectly to society as a whole. Yet there's no good way to monetize them (nor does there need to be monetization), and trying to do so damages the functionality of the network. Both Twitter and Reddit would likely be better off (from the POV of the users and the network as a whole) as something more along the lines of non-profit foundations.
Re:Reddit Strike Has Started by civilitty on Sunday June 11, 2023 @02:12PM (#36283971)
Is Facebook not a network effect business? It’s not only wildly profitable but bigger than those two combined.

Twitter and Reddit are just run by incompetents who can’t figure out how to advertise anything relevant.

Re:Reddit Strike Has Started by unreal37 on Sunday June 11, 2023 @05:05PM (#36285669)
Twitter and Reddit are messageboards. Like Hacker News. Every time they do something controversial, someone thinks Usenet needs to be reincarnated.

Trying to monetize that at scale is hardddd.

Facebook has got groups, yes. But they have instagram. Messenger. Whatsapp. They have my friends and family. They have my photos going back 10 years. Facebook is personal to many people.

I don't see Twitter and Facebook being interchangeable.

Re:Reddit Strike Has Started by Hary06 on Sunday June 11, 2023 @07:10PM (#36286678)
Agree.
Re:Reddit Strike Has Started by hparadiz on Sunday June 11, 2023 @07:55PM (#36286976)
It's not hard. Reddit has every niche community right there. I go to subreddits to find advice on product and there's no reason why reddit can't be selling it.
Re:Reddit Strike Has Started by weaksauce on Sunday June 11, 2023 @09:00PM (#36287358)
and i don't get why they can't sell ads in the third party apps. just send it down the feed and have a tos that you need to be feeding that to the users. cut the apps in on it if you think the apps won't game that(could tie the cut with something like clickthrough rate to successful conversion by whatever metric that is... might be impossible who knows).
Re:Reddit Strike Has Started by mapt on Sunday June 11, 2023 @10:07PM (#36287664)
What did Usenet cost to run?

What does Reddit's core functionality cost? They have annual revenue of half a billion dollars. Tell me that you can't use that money to run a text distribution infrastructure.

I doubt Slashdot in its day cost half a million dollars to run.

Re:Reddit Strike Has Started by pjc50 on Monday June 12, 2023 @04:59AM (#36290384)
Usenet cost was distributed to ISPs, which eventually sank it as they lost interest. And it never solved the moderator conundrum; at one point, a third of Usenet was spam, and another third was "spam cancels" deleting the spam.
Re:Reddit Strike Has Started by halfbrite on Monday June 12, 2023 @11:01AM (#36294802)
I wish there was a Usenet client for iOS that matched the beauty and usability (and accessibility) of Apollo.

I wish there was Usenet servers to back that up - which didn't carry the binaries or unsavory newsgroups.

Re:Reddit Strike Has Started by drewrv on Sunday June 11, 2023 @11:04PM (#36287993)
I feel like reddit could serve better ads than Facebook if they tried. Sure Facebook knows what college I went to and who my uncle is. Reddit knows my hobbies and interests.

The fact that I subscribe to r/woodworking, r/diy, etc, is really useful for targeting but I never see relevant ads.

I’ve literally given Reddit a big list of my interests and the asked to be served content, and the ads are almost completely unrelated.

Re:Reddit Strike Has Started by realusername on Monday June 12, 2023 @01:56AM (#36288961)
You nailed it, Reddit ads feel very amateur, close to weekend projects. And I don't know why they complain about third party apps, they never allowed them to display said low quality ads anyways in the first place...
Re:Reddit Strike Has Started by Nuzzerino on Sunday June 11, 2023 @11:47PM (#36288236)
> Trying to monetize that at scale is hardddd.

Good thing nobody is asking for that.

Re:Reddit Strike Has Started by unreal37 on Friday June 16, 2023 @11:42AM (#36358523)
Elon Musk would love Twitter to be profitable and Steve Hoffman would love the same for Reddit.
Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @02:21PM (#36284091)
Yeah, the way I think of it, the modern dogmas of Increase Shareholder Value and The CEO is Always Right might work for some businesses, but fall down badly when applied to user-generated content. They treat broader stakeholders as both morally and economically irrelevant. We can argue about the "moral" part, but with Reddit it's especially obvious that the users are the heart of the operation, making them economically crucial.
Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @02:16PM (#36284028)
Exactly. I'm headed back to wikipedia, where I found community as a teenager. I think you can draw a direct line from wikimedia's nonprofit status to 22 years of greatness and steady improvement.
Re:Reddit Strike Has Started by TylerE on Sunday June 11, 2023 @02:23PM (#36284120)
Eh, the Foundation has a lot of bloat and solicits donations far above actual operating costs.
Re:Reddit Strike Has Started by pneumonic on Sunday June 11, 2023 @03:09PM (#36284564)
True, but luckily they don't intrude on the community or impact the Wikipedia site too much beyond their ever more frequent "We desperately need donations" campaigns. As the Foundation has gotten richer, its desire for more milk from its Wikipedia cash cow has only grown.
Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @04:21PM (#36285213)
Sure, they're far from perfect. I don't mind if build a nice big contingency fund or even become personally wealthy -- but I think it makes a difference that greed isn't the central organizing principle.
Re:Reddit Strike Has Started by ekianjo on Sunday June 11, 2023 @06:39PM (#36286441)
Its closer to its a scam than its far from perfect
Re:Reddit Strike Has Started by Aeolun on Sunday June 11, 2023 @07:29PM (#36286811)
Do we have a massive, free, encyclopedia? Yes? Then it isn’t a scam.
Re:Reddit Strike Has Started by B1FF_PSUVM on Sunday June 11, 2023 @08:39PM (#36287238)
Needs competition. Another 'pedia or two would be healthy, and perhaps enlightening.
Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @09:15PM (#36287438)
Yeah. Does H2G2 count?
Re:Reddit Strike Has Started by erikts on Monday June 12, 2023 @07:55PM (#36303155)
Wikipedia entry[1] of h2g2 (The Hitchhiker's Guide to the Galaxy: Earth Edition)[2]

[1] https://en.wikipedia.org/wiki/H2g2

[2] https://www.h2g2.com/

Re:Reddit Strike Has Started by ekianjo on Monday June 12, 2023 @08:44AM (#36292534)
They are not the ones writing the content. So yes, it's a scam. They are making money on free contributors.
Re:Reddit Strike Has Started by kaba0 on Sunday June 11, 2023 @06:38PM (#36286435)
Which makes sense in case of a nonprofit that relies on donations and can’t predict whether the next year will be a hard one for people, making their sole income drop.
Re:Reddit Strike Has Started by TX81Z on Sunday June 11, 2023 @02:26PM (#36284153)
A friend there once told me the exec-level staff basically just does what the users want and they lack any real “authority” over the site.

However, the drawback is they had a lot of great ideas for improvements but the power users throw a fit over any changes.

Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @04:17PM (#36285178)
I think the pace of change has been just right, though. They added a graphical editor and modernifed the interface styling. Both of those changes happened about 5 years later than I would have expected, but you can tell they were carried out with extreme care not to piss off any users. We end up with an experience that pleases everyone.
Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @07:33PM (#36286834)
It sounds like you think it odd that exec-level staff should be honoring the wishes of the people who do all the work, but I'm not getting why. Sure, most companies are authoritarian hierarchies. But most companies also pay people enough that they'll put up with the authoritarianism, at least for a while. When you pay $0 for core labor, that means you've given up most of your ability to push people around.
Re:Reddit Strike Has Started by TX81Z on Monday June 12, 2023 @01:40AM (#36288856)
I didn’t actually say what I think about anything.
Re:Reddit Strike Has Started by wpietri on Monday June 12, 2023 @12:52PM (#36296629)
And I never said otherwise.
Re:Reddit Strike Has Started by specialist on Monday June 12, 2023 @12:20AM (#36288415)
> ...power users throw a fit over any changes.

Such a freq complaint it's a cliché.

Certainly been true for every software product and service I've worked.

Re:Reddit Strike Has Started by TX81Z on Monday June 12, 2023 @01:42AM (#36288877)
Yes, I think it’s the way of the world. If the power users and gatekeepers are aligned with the bulk of user’s needs it works well. We usually see issue like this when things get out of alignment.
Re:Reddit Strike Has Started by nebula8804 on Sunday June 11, 2023 @06:49PM (#36286527)
There is definitely interests that have captured Wikipedia. It takes the form of editors that have slowly built up a lot of credibility and power that then use it years later in some manner that does not agree with the neutral nature of the site.

The events leading up to the US 2020 election are burned into my mind. Sure people tend to talk about the craziness of the US far-Right but the non-centrist Left also got attacked and censored.

In one case a popular Youtuber on the Left (Kyle Kulisnki) had posted some commentary on independent attack ads that were extremely negative to the Democratic party. That led to a multiple threads on Wikipedia calling for the deletion of his page.

After 3 attempts to remove his page by the same editor, it finally got removed on the 4th attempt.

[1]:https://en.wikipedia.org/wiki/Wikipedia:Articles_for_deletio...

Watching this whole experience play out in real time was utterly disgusting and showed me how the site has since become captured.

Its a shame because despite calls for secondary sourcing in my experience many people do in fact trust Wikipedia whole heartedly. It is really dangerous that leadership did not clamp down on this behavior when it was happening. Now they have exposed themselves to attacks from the far right and eventually people with a lot of exposure (People like Musk) might call them out(if he hasn't already). That will begin the slow slide into half the country not trusting the site at all and their minds being made up no matter what Wikipedia does.

Interestingly the page was recreated over a year later after the election was over but the lasting damage has been done. I presume that in the next election it will be targeted again.

We see this behavior on other platforms such as Reddit during election season and you can be sure that Musk is whipping up something big for 2024 (and his rivals are probably developing some sort of countermeasure) but I thought I could always count on Wikipedia being a place of refuge. I guess not.

Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @07:58PM (#36286996)
Sounds like a regrettable epsiode. However, looking at the deletion, I see he was deleted as non-notable. Debates about notability are common on WP and not inherently political.

Back in the day (2006-2010ish, I think) I was a pretty active member of the Association of Deletionist Wikipedians. I was kind of on a crusade against people who would put up their own pages to try to promote themselves, in violation of the Wikipedia is an Encyclopedia policy. Mainly, I was worried that it would be untenable to keep WP accurate if we had too many pages. I also went on a rampage deleting pages for individual pokemon, which I'm not proud of. There was a well-established consensus at the time that most individual pokemon did not meet the notability threshold (I don't remember the exact criteria, but it had to do with multiple sources of the information being available) and therefore their pages should be deleted. Looking back, that was kinda silly... The Wikipedia is not Paper policy probably outweighs the Wikipedia is an Encyclopedia policy when it comes to Pokemon.

Anyway, I don't doubt that there is a political element in the case of this Kyle guy, but it's probable that I would have voted to have him deleted on completely apolitical grounds. (I haven't heard of him and haven't read enough to form a political or notability opinion on him at this point)

Re:Reddit Strike Has Started by nebula8804 on Sunday June 11, 2023 @08:33PM (#36287185)
My litmus test in this case would be are other political youtuber of similar or smaller size being deleted? If you go through the page and the previous attempts at deletion you'll see that this was not the case. I also noticed this as well during the event as it was occurring. Thats where I think something more suspicious is occuring.
Re:Reddit Strike Has Started by B1FF_PSUVM on Sunday June 11, 2023 @08:36PM (#36287209)
> went on a rampage deleting pages for individual pokemon, which I'm not proud of

I find it amusing that pokemons get pages, but real people don't.

Yeah, notability, I get it. Still.

Re:Reddit Strike Has Started by gverrilla on Monday June 12, 2023 @03:44AM (#36289797)
""" 36

This is the principle of commodity fetishism, the domination of society by "intangible as well as tangible things" which reaches its absolute fulfillment in the spectacle, where the tangible world is replaced by a selection of images which exist above it, and which at the same time are recognized as the tangible par excellence.

"""

Society of the Spectacle, Guy Debord

Re:Reddit Strike Has Started by TeMPOraL on Monday June 12, 2023 @05:22AM (#36290582)
A more charitable take in this case: fictional anime characters may not be as important as real human beings, but Pokemon are shared culture. The right comparison isn't with this or that person, but with poems, or paintings, or landmarks, etc. - all kinds of social objects.

And of course, giving back to Debord, we can say that the society of the spectacle is one of infinite supply of manufactured social objects.

Re:Reddit Strike Has Started by paulmd on Sunday June 11, 2023 @09:26PM (#36287482)
> Debates about notability are common on WP and not inherently political.

"sometimes it's not political" is not really a defense to the claim of "this time it probably was".

Anyway, the problem is there's a lot of valuable content on wikipedia that is essentially borderline according to the rules, but also delivers a lot of value, and this content exists at the suffrage of whether or not they have some greasy nerd as patron or whether another one gets a bee up their ass about it.

"Lists" policy is a great example, and I've seen quite a few important lists go through cycles where despite being a de-facto resource for 10 or 15 years, all of a sudden some editor will get a bee up their ass and just delete it all, because WP:Lists and WP:OriginalResearch. But of course having been the resource for 15 years, nobody external has bothered to collate a list that already exists on wikipedia, so we just lose that information unless some other greasy nerd pushes back on it.

The wikipedia editor cadre sucks, it's the definitive answer to the question of "what's the absolute least power that can go to someone's head". It's a real problem with the public trying to interact with wikipedia, much like stackoverflow answers everyone just knows it's not worth the time and does their damndest not to interact with it if they have any other alternatives.

And yes, "anyone can do it" in principle but it's not the public's job to push uphill to try and chase out bad actors in the organization. People won't do it and they'll just go do better things and you'll be left with a bioconcentrated poison - it's the "dead sea effect" in action. A sufficient concentration of poison will kill any life that might have any chance of remediating the poison.

Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @10:15PM (#36287706)
Did you try proposing a policy change that heavily used lists or articles, unique on the internet, should not be deleted? It seems like a good idea and browsing the policies now I don't see "people are using this" as a criterion anywhere. I think you might actually find broad support for that.

Just in case anyone here is taking paulmd too literally, it's not possible for "some editor" or any one person to cause an article or list on WP to be deleted. If I remember correctly (and if it hasn't changed) speedy deletion requires at least 3 people, and if it's contested then there's a whole voting procedure. Speaking as a (former?) greasy nerd, I've actually always been impressed with the democracy and consensus systems on Wikipedia; it strikes me as pretty effective, especially compared to most governments.

You're probably right that self-aggrandizement and gatekeeping is a problem among wikipedians.

I'm sorry to hear the diagnosis is terminal... but since you say you've been complaining for at least 5 years, maybe WP has a few more years to live?

(anybody curious about how deletion works, see https://en.wikipedia.org/wiki/Wikipedia:Introduction_to_dele... )

Re:Reddit Strike Has Started by paulmd on Sunday June 11, 2023 @11:23PM (#36288096)
> I'm sorry to hear the diagnosis is terminal... but since you say you've been complaining for at least 5 years, maybe WP has a few more years to live?

Well, that's the point of the stackoverflow comparison. Nobody actually goes to stackoverflow to ask questions anymore. The culture is rotten and there are better places to ask. It's become "read-only" for most of its potential userbase, people actively avoid using it. But is there still a site called stackoverflow? Yes. It's just lingering in agony, like many cancer patients. Doesn't mean without some turn in fortunes (or leadership) that it's ever going to come back though.

> Did you try proposing a policy change

That's the thing I said though... why would I voluntarily choose to spend more time working with a toxic organization in a fruitless attempt to solve its organizational culture for them? Not only is that not actually going to change anything but it's a huge drain on me personally for little direct benefit. Why is it my responsibility to tilt at windmills to try and fix your organizational culture?

That's the whole point about StackOverflow and Wikipedia's culture problems in a nutshell: at a certain point you are just so toxic that nobody who's not interested in the game-playing itself is going to tolerate the game-playing. And at that point you have the "dead-sea effect" going, because the game-players will always stay around.

Is this a little unreasonable in the abstract? Sure, I am not engaging with the organization and then complaining when it doesn't work the way I want it to. But this is the practical reality - the public isn't going to build a better Wikipedia organization just for the sake of it. If you have a viable organization then some of them will contribute content, maybe. And if your editors piss it all away because it didn't meet X rule or Y rule then you will simply have a worse product, and in the long term people will stop contributing content because they see it doesn't matter (which is where we are with wikipedia right now in general).

I am not being prescriptive here - merely remarking on a phenomenon that is observable. Nobody likes interacting with StackOverflowers or Wikipedians. They're, on the whole, kinda shitty people, and the product is worse as a result of this public disengagement. And this is not an uncommon opinion, you will not find a single person on Reddit who speaks positively of StackOverflow or Wikipedia's organizational culture, everyone (including their CEOs) knows they suck to interact with. The culture is toxic and rotten and the organizations cannot change it because a subset of the members relish in it being toxic and rotten, and over time the projects lose steam and falter due to public disengagement. You'll always have the greasies but the public is not beating down SO's door in 2023 to enlarge the community or to edit wikipedia and create content they know will be reverted by some basement-dweller.

https://medium.com/@jayhanlon/welcome-wagon-dd57cbdd54d9

Anything beyond fixing a minor typo or awkward sentence is a waste of time on wikipedia, and that's really more than most people will even do to begin with. Just not interested in the social-game-playing aspects of it, and the content you create will be reverted and removed without you being an advocate for it. The gameplaying matters more than the content, and that's what's killing SO too.

Re:Reddit Strike Has Started by foobarbecue on Sunday June 11, 2023 @11:33PM (#36288157)
For someone so concerned about being nice to people... you come of as a little... brash. Your perspective seems more defeatist than helpful.
Re:Reddit Strike Has Started by paulmd on Monday June 12, 2023 @12:06AM (#36288330)
I'd prefer to think of it as being WP:BOLD. Sorry to be insulting your org to your face, but if it makes you feel better it's likely a case of a toxic 10-20% or so more than everyone. I know nice wikipedians too, but they're not the ones that represent the interactions that turn people sour.

But yeah, it's the paradox of intolerance in action. Being tolerant of shitty people leads to a shitty org culture or a shitty society/world. If they get too entrenched, you end up being unable to pry them off the levers of power and the dead-sea effect begins.

If it were just me, I'd keep my mouth shut (ok maybe not). Everyone knows SO and Wikipedia have culture problems. There's just also not really a way for them to move past them because the people causing those problems are powerful internal stakeholders. There's no easy solution to a rotten organizational culture and it leads to bad outcomes. It's a shame to see it happen but again, there's no magic wands to fix any of it. Whatcha gonna do.

I've had projects fail because of org culture problems (may have taken down the whole company at this point). But when the boss and the boss's boss are part of the problem, what can you realistically do? Not interact with that org anymore, that's about it.

Re:Reddit Strike Has Started by wpietri on Monday June 12, 2023 @12:39AM (#36288519)
> "sometimes it's not political" is not really a defense to the claim of "this time it probably was".

Was it probably? I took a quick look at the deletions, the deletion reviews, and some of the older versions of the article. The article seemed to be very thin on actual citations, with way more text for a living-persons biography than I'd think reasonable for that level of sourcing. The deletion discussions were a hot mess, but my main takeway is what somebody else wrote there: "There's still not a single keep !voter here who has discussed which sources actually show notability."

Looking at the current article, my take is similar. I only skimmed, but I'm not seeing a lot of WP:RS compliant sources listed that would persuade me of notability even now; it's an awful lot of citation to his own works.

Re:Reddit Strike Has Started by CapstanRoller on Sunday June 11, 2023 @08:43PM (#36287261)
>the US far-Right but the non-centrist Left

No need for such verbal contortion.

You're describing the far-right (Republican Party) and center-right (Democratic Party).

Left parties in the USA include Green Party, DSA, CPUSA, etc. They are largely irrelevant.

Re:Reddit Strike Has Started by alexandre_m on Sunday June 11, 2023 @09:04PM (#36287376)
The Democratic Party is no longer center-right, not since at least 2016. The progressive faction has taken a lot of place. Just look at AOC and the likes.
Re:Reddit Strike Has Started by cool_dude85 on Sunday June 11, 2023 @09:29PM (#36287496)
What left wing policies did they pass when they won the presidency and both houses of congress in 2020?
Re:Reddit Strike Has Started by alexandre_m on Monday June 12, 2023 @01:29PM (#36297420)
The 3.5 trillion budget in 2021 with broader socialism policies would be a good example.

However, it doesn't have to be limited to legislations passed, but rather what is widely being discussed and pushed forward by the Democratic factions, the biggest example is the "Green New Deal"; more government intervention, increased spendings, massive expansion of state power.

Re:Reddit Strike Has Started by CapstanRoller on Tuesday June 13, 2023 @12:22PM (#36312539)
Socialism doesn't mean "when the government does stuff" (or "spending money")
Re:Reddit Strike Has Started by scarface_74 on Monday June 12, 2023 @12:25AM (#36288442)
What far left policies have passed since 2020? And 80 year old Biden a far left progressive?
Re:Reddit Strike Has Started by specialist on Monday June 12, 2023 @12:29AM (#36288461)
US House and some States? Sure.

US Senate and the solid blue core? Still firmly center-right.

For instance, Republicans are very unlikely to be elected in my city. So competitive candidates call themselves Democrats. And to establish their bonafidas, they might even hold a few select leftish positions to brag about. But when it comes to legislating and appropriations, the boring stuff that no one pays attention to, they're just as nimby, reactionary, regressive as any generic Republican.

Re:Reddit Strike Has Started by nemothekid on Monday June 12, 2023 @04:06AM (#36289944)
>AOC and the likes.

Who are the likes? How many of them are there? AOC is a house representative; is there a progressive senator?

Re:Reddit Strike Has Started by scarface_74 on Monday June 12, 2023 @12:23AM (#36288429)
The last year I could find for their largest donors from a quick Google search was 2018. Three of the big 5 tech companies are in the top 10 of largest donors. Do you think they are going to donate to Reddit?
Re:Reddit Strike Has Started by dasil003 on Sunday June 11, 2023 @02:53PM (#36284422)
Meh, Twitter and Reddit monetize just fine with ads. The problem comes in with VC expectations where everything must 1000x or die. These are not bad businesses, they're just small compared to Facebook or Google. What's needed is mature leadership that recognizes the value comes from the community, and following the private equity playbook of strip-mining the value is short-sighted.
Re:Reddit Strike Has Started by JumpCrisscross on Sunday June 11, 2023 @02:55PM (#36284442)
> problem comes in with VC expectations where everything must 1000x or die

Is "VC" tech's catch-all for capitalism? Reddit is pining to go public and Twitter just LBO'd. Neither is having its chain yanked by venture capital.

Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @03:05PM (#36284529)
Reddit took $1.3 billion in investor money. What makes you say they're not having their chain yanked? Going public solves an investor problem, but I don't see it solving anything for Reddit's community.
Re:Reddit Strike Has Started by JumpCrisscross on Sunday June 11, 2023 @04:45PM (#36285489)
> Reddit took $1.3 billion in investor money. What makes you say they're not having their chain yanked?

Took. Past tense. Limited need to take more. Look at Reddit's Board: it's ten people, only one of whom (Mike Seibel) is a VC.

Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @07:00PM (#36286618)
Your implication is that if they don't need more money, they can just ignore all those investor-owned shares? That doesn't make a lot of sense to me. Reddit's an odd duck given their ownership history and their investors. But I don't think they're that odd. Nobody gives you that kind of money without expecting to be well paid and soon.
Re:Reddit Strike Has Started by JumpCrisscross on Sunday June 11, 2023 @07:47PM (#36286933)
> implication is that if they don't need more money, they can just ignore all those investor-owned shares

No, they can ignore the venture capitalists' shares. Reddit's Series F was led by a mutual fund. Most of Reddit's shares are non-voting common stock, under a voting-rights agreement or held by non-VC investors.

The difference is meaningful when tracing incentives. Venture capital, almost by definition, involves a high-loss high-reward portfolio. Most bets are expected to bust. That makes a middling bet that doesn't return the fund essentially worthless, which in turn encourages shooting for the moon. Late-stage private portfolios cannot sustain heavy losses. They are looking at preservation of capital in addition to returns, which makes them fundamentally different from VCs.

Shorthanding all investors in tech companies to VCs denies you visibility into a rich spectrum of actors, incentives and alignments.

Re:Reddit Strike Has Started by FormerBandmate on Sunday June 11, 2023 @10:22PM (#36287759)
Reddit was literally bought by a magazine company in 2005. Their parent company still owns 70% of their stock or so
Re:Reddit Strike Has Started by HWR_14 on Sunday June 11, 2023 @07:05PM (#36286652)
That's the current board. Do you know how much control the investors have to change the board composition if they are ignored?
Re:Reddit Strike Has Started by JumpCrisscross on Sunday June 11, 2023 @07:43PM (#36286902)
> Do you know how much control the investors have to change the board composition if they are ignored?

Most of Reddit's shares were issued in the era of founder-friendly voting rights agreements. The fact that those investors don't have anyone on the Board means they don't have the right to elect one to it. Private-company Board rules are Byzantine. But they're not thoughtless.

Re:Reddit Strike Has Started by HWR_14 on Sunday June 11, 2023 @10:00PM (#36287628)
Isn't it also possible it's like Tesla with Musk. Even though the investors could oust him, they don't think it's worth losing his talent.
Re:Reddit Strike Has Started by dasil003 on Sunday June 11, 2023 @03:15PM (#36284610)
Twitter's problems started with VC investment where they were always compared against Facebook. I don't think Wall Street is much better, but by the time they went public, valuation and growth trajectories were already established by the VC narrative.
Re:Reddit Strike Has Started by djbusby on Sunday June 11, 2023 @03:23PM (#36284689)
The chain is yanked whem you raise your first round. The yanking stops at Exit/IPO
Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @03:32PM (#36284787)
Yeah, I don't know how it is for everybody, but I'm reminded of the line, "A good horse runs even at the shadow of the whip." When I've been at places that have taken VC money, there's always a deep, pervasive awareness that the deal is "exit or bust", and that every investor call should include good news in up-and-to-the-right form. At least with us, they didn't have to do much explicit yanking of the chain. Probably for the same reason that Fat Tony doesn't often have to remind people that he expects to be paid on time.
Re:Reddit Strike Has Started by nathants on Sunday June 11, 2023 @05:47PM (#36286073)
the generation of companies that defeat these vc companies will bootstrap, and use things like remote and chatgpt to make it work.
Re:Reddit Strike Has Started by compiler-guy on Sunday June 11, 2023 @06:47PM (#36286509)
The yanking doesn’t even stop then; it just changes who is pulling. Various institutional investors are all over Google to do better than it is. Google makes billions of dollars a year. More. More. More.
Re:Reddit Strike Has Started by bradleyjg on Sunday June 11, 2023 @08:05PM (#36287028)
Google has founders shares. Everyone always like to blame Wall Street. Management listens to them not because they have board seats but because they want to keep the equity based comp party going.
Re:Reddit Strike Has Started by marcosdumay on Monday June 12, 2023 @12:11AM (#36288361)
> Is "VC" tech's catch-all for capitalism?

No. It's a term specific for those investors working with: I don't expect you to survive, but if you don't get at least 10000% of return, you could as well be dead.

Almost all of capitalism works differently.

Re:Reddit Strike Has Started by Wowfunhappy on Sunday June 11, 2023 @04:15PM (#36285160)
> Meh, Twitter [...] monetize[s] just fine with ads.

Well, not anymore.

https://www.nytimes.com/2023/06/05/technology/twitter-ad-sal...

Re:Reddit Strike Has Started by Prickle on Sunday June 11, 2023 @04:46PM (#36285496)
https://edition.cnn.com/2019/02/07/tech/twitter-earnings-q4/...

Thing is, Twitter was profitable in 2019. Then the venture capitalists decided "Now is the time to increase your workforce by a factor of two. You need to start losing money again or you aren't trying hard enough!"

Re:Reddit Strike Has Started by chimeracoder on Sunday June 11, 2023 @06:23PM (#36286341)
You're getting downvoted, but you're correct. Twitter was profitable in 2018 and 2019. It then took a bath in 2020 (like almost all advertising-based businesses), and then was projected to recover to profitability in 2022 before Musk announced the takeover, which threw everything into a tailspin.
Re:Reddit Strike Has Started by throwaway2990 on Sunday June 11, 2023 @08:13PM (#36287070)
It wasn’t projected to recover. It was struggling. They had wayyy too many people working there.
Re:Reddit Strike Has Started by HWR_14 on Sunday June 11, 2023 @07:03PM (#36286639)
At the beginning of COVID there was a sense that WFH might be a permanent change and that companies might need to start competing on a lot of social distancing features. Look at Clubhouse exploding then, etc. Doubling the size of your workforce (and knowing you can shrink it if you are wrong) is a pretty reasonable bet. It has a known cost (measured in the hundreds of millions to few billions) if you try it and it is unnecessary (which it turned out to be), but a possible "death of the company" result if all the talent is gone just as you need XYZ to be competitive in a new landscape.
Re:Reddit Strike Has Started by re-thc on Sunday June 11, 2023 @11:38PM (#36288187)
> and knowing you can shrink it if you are wrong

You can’t just shrink it. That’s the problem. They still think of it as a factory where everyone is just a robot.

Most places lack enough documentation and processes that shrinking the teams reduce knowledge. There is never an even distribution of skill sets etc. You kill off team dynamics. It’s not the same.

You can’t just slot people in and out without impact in software.

Re:Reddit Strike Has Started by moneywoes on Monday June 12, 2023 @12:06AM (#36288333)
To play devils advocate does Twitter not seem fine now?
Re:Reddit Strike Has Started by re-thc on Monday June 12, 2023 @12:40AM (#36288523)
> To play devils advocate does Twitter not seem fine now?

Fine in what sense? There's less features, less capacity and more outages. They couldn't even hold someone's presidential announcement fine without it breaking. Is that fine?

As a business they've gained debt and lost a lot of income. Is that fine? With less income, less ads and less of everything it's a different scale. Something that's fine with 1 million users is not the same as 10 million.

I would say it's different - different ownership, different direction etc. Time will tell what the outcome is. Projects have been axed and new 1s will appear.

The changing of staff has definitely hurt Twitter. Whether they can recover is a different question.

Re:Reddit Strike Has Started by froggit on Wednesday June 14, 2023 @08:30PM (#36334862)
So... fine as long as you don't compare it to its past self?
Re:Reddit Strike Has Started by HWR_14 on Monday June 12, 2023 @01:10AM (#36288696)
It does not. They have more frequent and longer outages now. Heck, when Musk tried to do a town hall for DeSantis to announce his run, the livestream was buggy specifically because no one had returned one of their vendors phone calls. That's a stupid reason for a major fuckup.
Re:Reddit Strike Has Started by thulle on Monday June 12, 2023 @02:11PM (#36298250)
Do you have any source for the part about the vendor? Searching for a bit just gave me a ton of articles about the failed announcement in general.
Re:Reddit Strike Has Started by brokenmachine on Tuesday June 13, 2023 @01:03AM (#36305633)
I read somewhere that it was because they didn't pay a bill to Redis. Maybe throw that in as a search term.
Re:Reddit Strike Has Started by marcosdumay on Monday June 12, 2023 @12:09AM (#36288351)
Just to add, you can't increase it that fast either.

If you double the number of employees of some place in a year, you have a really large risk of completely redefining its entire culture. And a software business has basically 2 things, a culture and locked-in people.

Re:Reddit Strike Has Started by re-thc on Monday June 12, 2023 @12:43AM (#36288537)
> Just to add, you can't increase it that fast either.

Lots of places reported people having nothing to do, don't know what to do and lacked direction. The hiring standards also went down.

Re:Reddit Strike Has Started by smileysteve on Monday June 12, 2023 @10:14AM (#36293777)
When you double in a year, especially in the great resignation, 75% of your company will be new hires at the end of the year.

If you didn't follow conventions, your onboarding wasn't great or reinforced, then very few things in your system will be consistent.

Re:Reddit Strike Has Started by HWR_14 on Monday June 12, 2023 @01:09AM (#36288678)
You can shrink it if you plan correctly from the hiring phase. If you hire new people for a new division, and then shutter that division, you minimize the consequences. If you hire a bunch of new low level people for a bunch of teams and then prune those same people out, it's tough but doable.

If, on the other hand, you hire 100% more people, then fire 50% of the people and try to use that culling to get rid of a lot of older (and more expensive) employees, you can doom your company.

Re:Reddit Strike Has Started by re-thc on Monday June 12, 2023 @02:03AM (#36289005)
> You can shrink it if you plan correctly from the hiring phase. If you hire new people for a new division, and then shutter that division, you minimize the consequences.

You've just rephrased the exact issue I had differently. It doesn't matter if it's a new division or not unless your organization doesn't interact.

People have to go via onboarding and other steps. It involves HR "people and culture", the internal IT teams, the reception, you might get assigned a mentor, etc. These interactions spread when people socialize.

It's also as people and possibly shareholders how you view the company. Watch any sports and a player in form in the right team can perform 10x better. These so-called minimal disruptions actually have an impact.

Meta was paying a higher salary because less people wanted to work there. I don't see all the negatives as "minimal consequences".

Re:Reddit Strike Has Started by rattray on Sunday June 11, 2023 @07:49PM (#36286946)
Nit, by then it would have been public market investors, not VCs, for the most part.
Re:Reddit Strike Has Started by scarface_74 on Sunday June 11, 2023 @11:42PM (#36288201)
Twitter was a public company in 2019. VCs has nothing to do with it.
Re:Reddit Strike Has Started by FormerBandmate on Sunday June 11, 2023 @10:21PM (#36287744)
The New York Post has never been profitable under Ruoert Murdoch's ownership. He doesn't care
Re:Reddit Strike Has Started by rjh29 on Sunday June 11, 2023 @06:46PM (#36286498)
According to the spez AMA, Reddit is not profitable.
Re:Reddit Strike Has Started by wpietri on Sunday June 11, 2023 @07:30PM (#36286814)
Profit is a balance between income and expenses. He's hired a ton of people in hopes that they could radically increase their revenues. So it's a little rich for him to complain that Reddit isn't profitable when he's the one who made the choices making that way. In contrast, they could have taken the path of Wikipedia or Craigslist or Whatsapp, keeping the costs very low as a way of achieving profitability.
Re:Reddit Strike Has Started by rjh29 on Sunday June 11, 2023 @10:01PM (#36287633)
That was the path they took for the first 5-6 years, it didn't work. Tech savvy userbase with adblock and nobody bought Reddit Gold. Remember the monthly donation bar for their server costs? It never got close to filling. That was pre-new reddit.

So they got investment and scaled up to everyday users. Terrible redesign but at least the site doesn't look nerdy anymore, right? There are now actual advertisers on board. People are paying for badges and hats. They are tracking the shit out of people and pushing the app. They're on the way to profitability, and the next step is to cut out the old guard - who they couldn't monetize anyway - by removing third party apps.

Their costs are almost certainly ridiculous but their plan is either to become the next TikTok or crash and burn.

Re:Reddit Strike Has Started by InitialLastName on Sunday June 11, 2023 @11:16PM (#36288047)
> Remember the monthly donation bar for their server costs? It never got close to filling

Cynically, nobody is going to donate to a full or nearly full "donations requested" bar, so nobody is going to specify a bar that gets full.

Re:Reddit Strike Has Started by benj111 on Monday June 12, 2023 @04:21AM (#36290059)
Really?

I'd rather contribute to something that is actually going to be successful.

If you say you need £1000000 to go to space, and ask for £10 sponsorship, if you tell me you've so far raised nothing, what chance is there of my money going to use as intended? If on the other hand you've raised £999000 I can be more confident you are actually going to reach your goal.

Re:Reddit Strike Has Started by sbtokarz on Tuesday June 13, 2023 @09:03AM (#36309664)
Depends on whether you view your donation as a good will gesture/reimbursement of sorts for services rendered – or if you consider in an investment with more clearly defined objectives at the end of the fundraising campaign.
Re:Reddit Strike Has Started by benj111 on Wednesday June 14, 2023 @05:33AM (#36323492)
I suspect it's just basic human behaviour. If other people are doing it, then it's somewhat normalised.

Also personally, it seems to me that if you have a goal, then that's a minimum. If you don't reach it, the thing doesn't happen. A website never reaching its funding goals is one that seems more likely to shut down, and what's the point of supporting something that could shut down tomorrow because it can't pay it's way. I know that's self reinforcing but there it is.

Re:Reddit Strike Has Started by scarface_74 on Sunday June 11, 2023 @11:44PM (#36288213)
Most users were using the app on mobile. Adblock had little to do with it.
Re:Reddit Strike Has Started by rjh29 on Monday June 12, 2023 @05:03AM (#36290430)
Not in 2015. After that heavy users switched to third party apps.
Re:Reddit Strike Has Started by adamc on Monday June 12, 2023 @02:02AM (#36288995)
10 to 1 they burn.
Re:Reddit Strike Has Started by ivlad on Sunday June 11, 2023 @10:13PM (#36287695)
Profit is revenue deducted expenses, taxes, depreciation, loan payments, and other costs.

Income is the same as profit.

Re:Reddit Strike Has Started by miked85 on Sunday June 11, 2023 @09:15PM (#36287432)
I have a feeling that once they turn off the old reddit UI option, it will be even much worse.
Re:Reddit Strike Has Started by ridiculous-fish on Tuesday June 13, 2023 @06:57PM (#36318797)
You can literally look up their profitability, Spez is full of it.

https://www.statista.com/statistics/1260066/reddit-advertisi...

Re:Reddit Strike Has Started by dm319 on Sunday June 11, 2023 @08:02PM (#36287013)
I think we have to stop chasing growth like this. It's destructive to many things.
Re:Reddit Strike Has Started by behnamoh on Sunday June 11, 2023 @10:25PM (#36287776)
Better still: change the definition of "growth" to encompass more nuanced, non-quantifiable things like user happiness, employee happiness, etc.
Re:Reddit Strike Has Started by antupis on Monday June 12, 2023 @12:56AM (#36288608)
those can be faked always that's why I personally don't like those kinda metrics.
Re:Reddit Strike Has Started by chii on Monday June 12, 2023 @01:19AM (#36288743)
why would the current shareholders want anything other than profit (which is by proxy measured by growth)?

Shareholders care not for employee happiness, in so far as said employee is working and producing. Ditto with user happiness - if they're not happy they can leave. By not leaving, they must be happy to stay.

I think these proposals to "change" the metrics is as flawed as the current system.

Re:Reddit Strike Has Started by hellweaver666 on Monday June 12, 2023 @04:04AM (#36289932)
on of my favourite books is "Small Giants: Companies That Choose to Be Great Instead of Big" by Bo Burlingham. It's worth a read if this is something that interests you.
Re:Reddit Strike Has Started by simonh on Monday June 12, 2023 @04:52AM (#36290326)
I agree in general, but network effect companies are highly vulnerable to being out-grown. A bigger rival with a bigger network is inherently more attractive to users, and it's competitive advantage increases exponentially with size.

The only way to avoid that I know is to address a specific target audience and scale up to dominate that. Tumblr has achieved this. A rival then can't dislodge you because you already own the relevant network. It's still risky though, because if a rival builds a product that covers the general audience and also servers that subset well, then the subset might decamp. Hence Tumblr trying to break out of it's niche. G+ addressed a lot of niches very well, but Google just wasn't interested in that kind of network.

Re:Reddit Strike Has Started by WalterBright on Sunday June 11, 2023 @05:27PM (#36285894)
Non-profits still need enough revenue to meet expenses.
Re:Reddit Strike Has Started by chemmail on Sunday June 11, 2023 @08:13PM (#36287068)
There are huge conflicts of interests between profitability and good business. Just listen to the podcasts on how they started Gimlet. The second season they focused on dating sites and the ones that working amazing just did not make money so they had to kill it and just do the generic shit we have now. Saying money is the root of all evil is not too far off from reality.
Re:Reddit Strike Has Started by firecall on Sunday June 11, 2023 @08:53PM (#36287322)
I'm not sure I agree with that, as it's hard to ignore Facebook.

Facebook is astoundingly profitable, and is the canonical example of network effects. Almost everyone I've ever known is or was on Facebook.

So I don't consider Network Effect Businesses to be terrible as for-profits in and of themselves.

The issue perhaps is that there is an expectation that they can become Google or Facebook.

Now we have a generation raised on social media that doesn't require your real name, maybe we will see a new platform reach Facebook levels.

TikTok and YouTube are obviously huge, but slightly different again to Facebook.

As an aside, people talk about how amazing Tik Tok is, but in the end, it's really just the creators uploading content that make it work.

Facebook captured Advertising dollars, in part, by investing in Ad infrastructure and building tools that companies could use to create targeted Ads. Every other platform, apart from AdWords, felt unfinished, especially Twitter!

Re:Reddit Strike Has Started by mapt on Sunday June 11, 2023 @10:00PM (#36287631)
These network effect businesses are WILDLY PROFITABLE for a good long while if you keep overhead low, keep the product stable, and don't try to Take Over The Internet by doing something novel, developer-intensive, and (usually) stupid.

Unfortunately any platform that draws >10 million daily users will reliably have people calling and offering billions of dollars to adopt that strategy and chase after revenue growth. Eventually the owner breaks down and agrees to take a huge personal payoff in order for the company to adopt a "Double or nothing" policy. Over, and over again.

There's too many enormous piles of money out there seeking a return for this to be a sensible self-regulating system with stable provision of goods & services.

Holdouts are few and far between, like Craigslist.

Re:Reddit Strike Has Started by scarface_74 on Sunday June 11, 2023 @11:41PM (#36288195)
>I think there's a fundamental conflict, in that these network effect businesses are terrible as for-profit businesses.

All of the BigTech companies are built on network effects and two sided markets

Re:Reddit Strike Has Started by bawolff on Monday June 12, 2023 @01:56AM (#36288957)
Its not like wikipedia has a perfect history of making features with good user fit . There are some successes,but also quite a few failures. You could say the same thing that most of the successes were supporting what users were already doing (e.g. flow vs DiscussionTools)

I think doing feature development on big socio-technical systems with an entrenched user base, is fundamentally hard.

Re:Reddit Strike Has Started by PaulHoule on Monday June 12, 2023 @11:52AM (#36295563)
Depends on the platform. Facebook and Youtube monetize very well. Then there are platforms that lumber on marginally for years like Reddit and Twitter, or where the commercial pressures of advertising are particularly obnoxious. (I think of that band Jefferson Starship which never made up its mind if it wanted to be commercially successful or have artistic integrity.)

On the other hand there are sites like Danbooru which seem to thrive without advertising probably because the nature of their content drives advertising away.

Re:Reddit Strike Has Started by BizarroLand on Monday June 12, 2023 @05:13PM (#36301225)
I wish we could somehow get the US government to make an alternative replacement.

I know that is a minefield of issues regarding access and moderation and it would make it a frequent election day financial harassment target but it would be nice to have something that is publicly funded, ad free, and not vulnerable to deep pockets stealing the entire system from the people.