I think it's in jest, but there's a sliver of truth in it because the 3rd party apps were profitable and Reddit isn't. This is due to Reddit being incompetent rather than 3rd party apps being greedy however.

[–] sdjmchattie@infosec.pub 2 points 1 year ago (1 children)

Looks like it’s not accurate then because they’re getting some profits in this drawing.

[–] Doods@infosec.pub 0 points 1 year ago

Social media platforms generally only lose money.

[–] bionicjoey@lemmy.ca 1 points 1 year ago

It's ironic my dude

[–] athos77@kbin.social 2 points 1 year ago

A reminder that if spez was really concerned about costs and income from the reddit API feeds, he's looking in the wrong place.

The third party apps exist to help reddit thrive, aren't making much money, and take small amounts of targeted data.

Otoh, you have sites like Google and ChatGPT that are sucking up everything with a gigantic firehose, are using that data to develop and populate their own non-reddit products, and are starting to make money off the products they developed from the data they took from reddit, that reddit paid the costs of for them to steal.

spez really fucked up with understanding the actual real value of reddit then, and he's equally mistaken about the value of both third-party apps and the internet behemoths now.

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