this post was submitted on 20 Jun 2023
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shows you how good this protest is going
I mean - it was a ~6% drop...Most of which is probably back by now. The visit duration was a decently significant drop at about 10%, but that will surely return to normal as more subreddits open back up. I doubt reddit is going anywhere, or will even make any substantial changes resulting from the protest.
Overall, I'm unlikely to go back. Not necessarily to hurt reddit or anything, but because fediverse alternatives seem pretty reasonable without ads that will be forced on users now that reddit third party API calls are basically gutted. The infrastructure is here to make something good. Hopefully the turnout will stick around and increase beyond the initial influx of users from the protest. I will say that, of the various "exodus" episodes of reddit's lifetime, this seems more impactful. I think mainly due to the alternatives actually being present. Earlier attempts at exodus fell short because there was simply nothing similar out there.
A lot of companies have profit margins in the 10% range. A 15% drop in revenue could result in immediate loss of profitability.
For a company looking to make an IPO, this data does not look good at all. Especially because it was completely avoidable, they could have avoided this whole thing by just responding to developer concerns and just delaying the launch of fees for 6 months to allow devs to reduce calls and change their own monetization strategy. They could have avoided the worst of it by just not being total dickheads to literally everyone, getting caught in a lie and then doubling down on it and lying more.