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Reddit is getting rid of its Gold awards system (www.theverge.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit is going to sunset its current coins and awards systems, meaning you won’t be able to buy Reddit Gold for posts you like. However, it is working on a new system for awards.

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[–] ThisIsMyLemmyLogin@lemmy.world 21 points 1 year ago (1 children)

I'm starting to think Spez is depressed. He probably had visions of being a Billionaire tech bro by now like Zuckerberg and Musk. His only thought these days seems to be how to monetize Reddit, regardless of how he destroys it.

[–] barrio_libre@lemmy.world 15 points 1 year ago (1 children)

If he’d had any insight, he’d have realized Reddit’s structure wasn’t a good vehicle for monetization and gone the way of Wikipedia/Jimmy Wales. He’d be popular and respected now and probably able to extract a decent living from it.

But his insistence that a square peg be pounded into a round hole will end up with him being neither popular nor respected—and he’ll never sniff that moonshot IPO.

[–] bdiddy@lemmy.one 6 points 1 year ago

I think the advertising it can do is a perfectly reasonable way to monetize..

Their problem is they want to be some major player and not a "right sized" organization.. They want to go public and try to be billionaires and be like elon or zuck, but it's just not going to be that.

So in their quest for GREED they'll destroy the very thing that can make them absolute massive amounts of money. It's crazy how many mega corps have fallen to the same fate.

They should welcome 3rd parties and any other means to see reddit and monetize the advertising.. Hell they could even try to work streaming deals with NFL and NBA and whatever.. Cowboys games live threads alone have caused the entire reddit website to collapse lol.

SOOO much monetization possibilities in that. And it's charging billion dollar organizations.. not the people that use the service..

Spez is not a good business man