this post was submitted on 21 Jun 2023
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Technology
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Yes, but almost all ad-based business models in tech fell, too. There's less advertising money on the internet today than in 2022 or 2021, so investors are more skeptical in business models that primarily rely on internet ad revenue.
Throw in the fact that Reddit's advertising platform is actually difficult to use and not particularly effective, and you have the problem where Reddit simply can't charge the same rates that Facebook and Google can. That's what's going to kill the site, when advertisers decide it's just not worth advertising on that platform.
How platforms die aka enshittification : First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.
sauce : https://www.wired.com/story/tiktok-platforms-cory-doctorow/