Well yeah, I'm probably not the only daily active user who stopped visiting all together... after 10+ years of daily active use. They brought this on themselves.
this post was submitted on 26 Dec 2023
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Same, but only a few years user. Sync for lemmy is so much better.
I loved Sync for Reddit as an app. But I already was seeing Reddit go downhill even before they killed the apps, that just sealed the deal for me. I was a digg refugee so sadly I've been through this before already.
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Came from using it daily to only going there only when google forces me to use it
Many of such cases I assume
Me too. It was the constant popups making me download their app that did it for me.
tHiS cOmmUnIty MiGhT hAvE sEnSiTiVe CONTENT, dOwNlOaD OuR ApP pLeAsE!
Just give me my porn, you fucks
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Let's for a second take stock of what's happening here.
The ad revenue is falling short of the projected prediction of what it was supposed to be. As in the profit from ad revenue did not reach that arbitrary number.
Reddit is still grossly profitable.
This is the same kind of headline that says Facebook lost 11 bagillion dollars but in reality they didn't lose a dime they just didn't make as much as they wanted to.
The difference with Facebook is that it is a public company, so it does have to grow every year to have value for investors.
Reddit doesn't. It's existing private investors can splot the profit and be just fine. They just want a huge payout that will only come from an IPO.
And the issue with consistent growth in billion dollar companies is that it's not sustainable. We can't just keep pilling on profits on top of profits to sate investors insecurities.
These morons will try though, their strategy invariably seems to be building the Jenga tower as high as possible, thinking they'll be "quick" or "smart" enough to sell their shares before it tumbles.
It's gambling, but with people's livelihoods.
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Remember, the reason I ditched Reddit wasn't the ads per se, it was the constant data selling, and the official app just getting worse and worse with unwanted "features" pushed on everyone. They kept getting greedier and greedier so when they disabled 3rd party apps I ditched Reddit.
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The last time I have logged in to Reddit was the day they ended the apps, July 1 I think it was. I haven't been back since. I thought I would miss it more than I do but honestly I never even think about it anymore and am much happier with my new Lemmy life.
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So they did $800M when they wanted to do $1B. Okay that’s disappointing.
But the eye opener for me in this article is that they did $800M in 2023 up from $350M in 2021. That’s insane revenue growth. This is the first time I’ve seen any inkling that their IPO might have some chance.
Still, you’d have to believe they can get to multiple billions. I think it’s much more likely that they will fall flat and actually help kill whatever optimism there might be about IPOs in the market.
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I don't know if reddit ads provide a good roas. We tried a few campaigns and gave up because it was so far off what we see on other platforms. The community is super anti-advertising, the targeting is really limited by community and geo.
People go to reddit to veg out, not to shop. I think the only times I've made purchases based on things I've seen are when there's a discussion and numerous people make a recommendation for the same thing, or maybe a few cases when the op is showcasing something they had a personal part in creating.
Back when Reddit was good the ads used to be like regular posts with a comment section, so you could actually talk about the product and exchange experiences, and the advertiser would sometimes respond. I found it to be a transparent and valuable way of advertising, and I actually liked the ads back then because there was a social and learning aspect to them. But of course they got rid of that, supposedly because what if somebody says something bad. They don't understand that the lack of honesty and dialogue is what makes people loathe ads.
Fuck advertising, but that's a brilliant idea.
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Moved to Lemmy, best choice ever.
Deleted Reddit because they blocked me from fetching subreddit RSS feeds which was the only reasonable interface left
The users, and only users, need to be the shareholders. A bunch of useless venture capitalist parasites should never again be allowed to own and destroy our public spaces.
"public"
If y'all stop investing your time and energy into private companies as if they're the public interest, we wouldn't have these issues.
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2024 is literally a year of leaving Reddit for Lemmy.
Because 2023 wasn't?
To elaborate: what Reddit did this year wasn't enough for a (major) mass migration. I very much doubt even more ads will deter those that have stuck around so far. Perhaps there'll be a trickle, but I don't see anything happening like what was the case for Digg back in the day.
This will trigger an enshittification cycle.
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- Underperformance per-quarter resulting in anti-user actions to increase profits.
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- Users leave because of anti-user actions.
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- Profits will decrease as users leave until the end of quarter.
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- Return to Step 1.
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Fuck Spez.
I’d rather not even see that cunts face
oh no! anyways...
that's what they get for perma-banning all their human users.
Remember when the IPO was supposed to be in 2021? Then it was 2022? 2023?
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Smoke a massive bag of dicks spez
Lol
The company I work for spends ads on social media companies for ransomware protection and regularly spend is regularly negative. That means we spend more money on advertising than we do in income. We only do it to maintain some market share but otherwise it's just a pure loss on that platform.
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Nobody saw this coming… /s
Fuck spez and his ad infested shit hole called Reddit
Nothing says you care to advertisers like single handedly blowing up your website by cutting off 25% or more of its userbase.
They feel like they get shorted because many of those users don't contribute to ad revenue from 3rd party apps but instead of improving their app to lure users in they instead tell those users to fuck off.
A user is a user, even if they don't contribute directly to ad revenue they contribute content to make the site more alluring for those who will contribute to ad revenue. As well they help spread the word about reddit to those who don't use it regularly yet by sharing that content outside of reddit.
They were pretty short sighted by doing what they did.
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Nothing to celebrate.
Reddit revenue is still up, just not as much as they had hoped.
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As someone has had their accounts shadow banned across of wide swaths of reddit, despite being one of its first users... good fucking riddance.
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Fuck Zuckerberg, Fuck Spez!! 🖕🖕
When the point of a fun website is finally and forever lost. Welcome to the bots and ads show!
Spez can suck a sick
I never even had a Reddit account, and was always a lurker. Thanks to Lemmy, I actually want an account.
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