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Their revenue model seemed fine with awards. Brilliant model. Value out of thin air. I spent maybe $5/mo on awards.
Seeing the content itself as the product was a mistake for reddit. It’s like charging people for silverware at a restaurant.
Use of the API, just like use of the HTTP servers, drove engagement and engagement drove awards sales.
Just like the use of silverware drives meal purchases at a restaurant. Reddit charging for the API is like a restaurant charging to get the menu texted to you.
From what I’ve read, they’re not hurting from any of this at all. It’s all back to normal. Which is very disappointing.