Reddit is caught between a rock and hard place. With the emergence of artificial intelligence (AI) that threatens to disrupt how people find information online and a massive boycott brewing in reaction to a move the legacy social media platform took to bolster itself, the company, which counts an obscene 57 million daily users, is finding out that existence as a “tech darling” doesn’t get any easier even after you successfully “scale.” If anything, Reddit’s current situation only shows the ground it was built on – essentially, advertising and data extraction – was always soft.
If you haven’t heard, there’s a mass protest going on of Reddit – spurred by developers who say they are getting burned by a recent strategic decision by Reddit to start charging for its application programming interfaces (or APIs, essentially the bridges needed to access the site and its data if you want to build something on it). Hundreds of subreddits have taken themselves “private” and several third-party apps are turning their backs on the website, which is looking to go public sometime this year.
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Reddit still not forget a WallStreetBets move ))))
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