this post was submitted on 20 Jul 2023
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It’s not. I read this in any post here and it just doesn’t make any sense.
r/place made the rounds the previous times outside of Reddit. It showed what an engaged community can do, and it was beautiful (especially the first one). This one will only make it clear how much of the active community is against these changes. And it’s making it much more obvious than ever.
Yes people are using the site but Reddit won’t make bank on this. Most of the people protesting are probably using scripts and so on pc, and as such for sure using ad block as well. That’s no revenue for Reddit. Even the official mobile app can’t load it, so people aren’t even using that.
Yes they can boast about having more engagement and activity for a few days but that’s not worth it in this case at all. Reddit shots themselves in (the other foot).
Reddit isn’t looking for immediate ad revenue from Place users. Reddit is looking for the extreme engagement of Place to have great stats to show investors and advertisers.
Only to immediately bomb following, showing that their metrics are extremely unreliable, and their user base volatile.
If advertising is becoming hard on Twitter who is going to be buying big ad campaigns on Reddit? I can see it in my reply, products you don't want to support.
Do you think investors and advertisers are brain-deadly stupid? If they can see "great stats" on one hand while the media is full of reports about the ongoing protests of reddit users, they will be able to see the whole picture.
Especially as r/place was all over the media in past years anyway. Only this year it's full of destructive behavior and trying to destroy everything with fuck-messages. Sure, that's totally good advertising for reddit somehow and not scaring advertisers away because "but look at the amount of people who koined to hate us"...
The fact that this is so transparent might bite them in the ass because it demonstrates that they are aware that they might not be in a great place if they need to take actions to "prove" everything is still ok. I agree with those saying that this showing everything is fine is more likely to be misleading, and misleading investors is a great way to get sued.
I am biased here, but to me this appears to be transparently misleading and if Reddit's price tanks after the IPO, these actions will be examined closely during a class action suit that will get access to internal communications.
They can show high engagement, but if that engagement isn't linked to profit or revenue, then calling it a good reason to buy shares is misleading. They need experts in investor relations and laws to help them navigate this minefield and I suspect that in the end, there will be a big disclaimer on all of the current activity.
Or if they are smart, this current activity isn't for advertisers and investors but for users, to say "see, we're still here and fun, so keep coming!".