this post was submitted on 07 Jan 2024
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.
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SNOOcalypse is closing down. If you wish to talk about Reddit, check out !reddit@lemm.ee, !reddit@lemmy.world and !RedditMigration@kbin.social.
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Rexxit had over $500,000,000 in revenue in 2022. It wasn't profitable because spez spent money paying for all the infrastructure and bandwidth for multiple AI companies to harvest all of rexxit's data, and because he's constantly distracted by trying to incorporate the latest tech-bro trends into rexxit - rexxit crypto, rexxit NFTs, now he's trying to figure out rexxit AI. He's a breathtakingly incompetent CEO.
Reddit Crypto and Reddit NFTs were good ideas... to get revenue from 3rd-party app users. Then they killed 3rd-party apps instead ๐คฆ