Bonum Certa Men Certa

Reddit Has Not Been Important for Nearly a Decade and Now, Amid Mass Layoffs, Conde Nast Wants to Offload It

posted by Roy Schestowitz on Feb 10, 2024

Wall street sign in New York

Related: Conde Nast (Reddit), Which Endlessly Defamed Richard Stallman and Had Paid Salaries to Microsoft-Connected Pedophiles, Says You Must Be Over 18 to See 'Stallman Was Right' | Reddit Misapplies NSFW Tags (/r/stallmanwasright Too Hot to Handle)

THE topic of Reddit has been consistently covered here in a negative fashion (for more than a decade and a half) because Reddit is generally a really disgusting site which is very hostile towards Free software. It has always been that way! They ban Free software proponents, even moderators (banned from their own 'forums' or subs). Reddit takes money from Microsoft; it is a regular client of theirs. People are led to think those are "communities" and Reddit is "hands-off" but nothing could be further from the truth.

The parent company has been firing people like crazy (mass layoffs, repeatedly even), there were staff walkouts, and they hope to spin off Reddit to run at shareholders' expense, perhaps viewing that as a liability rather than an asset after the mass rebellion (trying to 'monetise' the site but mostly angering unpaid "labourers"). We already wrote about this rebellion, which began last year.

Looking at relative share (compared to other social control media, which is also waning), it does not look too encouraging. If you get the latest data from statCounter you will quickly find that that Reddit sank from over 12% to about half a percent! Here is a chart of the relative share of Reddit:

Reddit Stats Worldwide Jan 2009 - Feb 2024

As a private company, it is hard to assess just how viable Reddit is financially. They clearly want other people to gamble away their money, as Conde Nast makes plenty of deep cuts these days. Reddit isn't growing; it's just looking for another business strategy.

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