this post was submitted on 14 Jun 2023
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Technology
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The public offering will be a disaster, hopefully. I don't see how investors aren't questioning Spez's leadership after handling this is the worst way possible. Could of been straight or worked with the third party developers to integrate ads and premium. Instead he jacks up API rates to close apps like a coward instead of just telling it how it is. Mindblowly terrible leadership.
The 'We have not seen any significant revenue impact" might have something to do with investors not questioning anything. Hell for all I know the API change might have been their idea in the form of "Hey Elon started to charge of the api and nothing burned to the ground. Why don't we try".
They might want to check again...
For sure, I also can’t believe reddit has much intrinsic value when it’s botted/astroturfed to oblivion… I think that tech savvy investors are aware of these issues and may just end up shorting the stock. No matter what someone’s making money off of this.