Jerry Marion’s Post

During a recent interview, Reddit, Inc. CEO, Steve Huffman, showed his feisty side as he shared a fascinating take on social media's authenticity. Even as one of the largest websites globally, Reddit continues to view itself as an underdog when compared to other social media giants like TikTok. Huffman's candid demeanor and spirited approach helped pull Reddit back from the brink of an existential crisis back in 2015. Since then, Reddit has made significant strides, boasting a more user-friendly interface and enhanced moderation tools. His straightforward strategy for monetization revolves around ads, and he remains confident about Reddit's future and its potential for business expansion. As Reddit marketers and avid Redditors, we're convinced that the platform offers an unparalleled opportunity for businesses to engage with a highly active and diverse audience. With subreddits catering to virtually every topic under the sun, companies can pinpoint their niche and forge connections with their target market. So, what's your take on Reddit as a marketing channel? Have you dipped your toes in the Reddit pool? #reddit #redditmarketing #tiktok #socialmedia

Reddit >>> Google Gen-Z is ditching Google and making Reddit our new best friend. Why, you ask? Well, here's the scoop! 🕵️♂️ 🔍 Google's Getting a Bit... 'Meh' Google's lost its sparkle. It's all about sponsored content and those SEO-crammed blogs from 2011. Gen-Zers want the real deal and Google's not quite cutting it. 🌟 We're Loving Reddit Now, Reddit's where the party's at! Why? Well, Reddit has wayyyy fewer sponsored blogs/ads. Additionally, the upvote/downvote system helps us to understand the public perception or quality of information on a post. We trust Reddit to keep it real. 🤐 The Beauty of Anonymity One big reason we're hooked on Reddit is its anonymity. It's like our secret hideaway where we can be totally honest, no facades. You'll find the most candid, no-holds-barred discussions, and we're loving it! 🧠 The Gen-Z Information Hub As a Gen-Zer, I can tell you, that Reddit's got our back. Whether we need career advice, mental health support, or just a place to vent, there's a subreddit for it all. The content is fresh and relatable – it's like our digital home away from home. 🌐 The Future of Info In this era of authenticity, Reddit's taking center stage for Gen-Z. It's not just a source; it's a community where we actively share and learn together. 📣 Over to You! Are you riding the Reddit wave with us, or are you still on Team Google? Share your thoughts in the comments! Let's chat about this digital shift! 🗣️ #GenZ #Reddit

Reddit, Inc.'s management seems to think that Reddit is too big to fail They're wrong The fundamental Reddit question: "Is Reddit its community or its executives?" Running a community or a multi-million member subreddit like Funny, is a ton of work Spitting in the faces of the volunteers that make Reddit work is just asking for trouble There is nothing special about Reddit except its community and the content the community created This is not at all dissimilar to mass fashion's current situation We're seeing customers abandon brands because mass fashion is alienating their customers with one size fits none generic product and content, poor quality, high prices, and no way to participate In the past, businesses could get away with treating their users as commodities and putting profits ahead of everything else Reddit and now the entire short-form video internet is built on user-generated content The company needs to put users first and focus on creating a platform that is welcoming and engaging and where users can monetize the communities they've built If Reddit continues to treat its users as commodities, it will eventually be replaced by a competitor that does The success of any business or brand is ultimately dependent on the people who use it - if the people who use it are not happy, then the platform or brand will eventually fail In the past, consumers were limited to a few major brands for most products and services and consumers had little power to voice their complaints about products or services Social media gives consumers a platform to share their experiences with the world - it makes it much easier for consumers to organize and hold businesses accountable As these trends accelerate, the command and control, profit above all else business model will become increasingly obsolete Businesses that want to survive in the long term need to put customers first and focus on creating products and services that people love You have to be deeply aware of their constantly changing needs and execute in real time because the success of digital brands is ultimately dependent on the people who talk about them online If the people who use it are not happy because you start from a place of designing products, content, and experiences from a place of bias rather than their specific shared interests, then the platform or brand will eventually fail The answer is (fashion) brand is community, not a bunch of suits who don't know anything about Gen Z girls #genz #creatoreconomy #contentistheproduct #tiktokisthestore #tiktokmademebuyit https://lnkd.in/ejd-pSUx

In the second episode of #AlmostFailed, we'll be talking about Reddit (Reddit, Inc.) Entertainment, social networking, and news website Reddit have 430 million unique users. By anyone’s standards, that is a lot of traffic, even for a website that launched over 15 years ago. While these numbers may cause you to wonder if your website could ever reach such heights, the story of Reddit’s humble beginnings truly proves anything is possible. You see, when Reddit first launched in June 2005, it was just like any other fledgling website: it had no visitors. But rather than rest on their laurels and wait for people to find the site, Reddit’s two co-founders – Steve Huffman and Alexis Ohanian – had other ideas. To get the ball rolling, Huffman and Ohanian set up a plethora of fake user accounts. Using these accounts, they created and inserted themselves into conversations on the bulletin board-style site. According to Huffman, these fake accounts served two purposes. Not only did these fake accounts help populate the site with users, albeit fake users, but they also helped set the tone of the site and steer conversations in the direction Huffman and Ohanian had in mind when they founded the site. The upshot: It’s all about herd behaviour. When a website has users, the subtle implication to an outsider is that there must be something to see or do. Think about how you feel when you walk down a street and see a crowd of people gathered around something. You want to see what the fuss is about, right? The lesson here is to make it appear as if your business has a crowd. Source - Foundr

You need Google to search Reddit, and you need Reddit to search Google. As a Redditor stated 8 years ago, “𝙄 𝙖𝙙𝙙 ‘𝙍𝙚𝙙𝙙𝙞𝙩’ 𝙖𝙛𝙩𝙚𝙧 𝙚𝙫𝙚𝙧𝙮 𝙦𝙪𝙚𝙨𝙩𝙞𝙤𝙣 𝙄 𝙨𝙚𝙖𝙧𝙘𝙝 𝙤𝙣 𝙂𝙤𝙤𝙜𝙡𝙚 𝙗𝙚𝙘𝙖𝙪𝙨𝙚 𝙄 𝙩𝙧𝙪𝙨𝙩 𝙮𝙤𝙪 𝙖𝙡𝙡 𝙢𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝙤𝙩𝙝𝙚𝙧 𝙨𝙩𝙧𝙖𝙣𝙜𝙚𝙧𝙨.” But.. What would happen if that stopped being the case? What if Reddit forced users to log in to see content? This question was answered last year, when Reddit CEO, Steve Huffman, saw the value of Reddit's API. He stopped third-party access to the API and subsequent protests. “𝙏𝙝𝙚 𝘼𝙋𝙄 𝙪𝙨𝙖𝙜𝙚 𝙞𝙨 𝙖𝙗𝙤𝙪𝙩 𝙘𝙤𝙫𝙚𝙧𝙞𝙣𝙜 𝙘𝙤𝙨𝙩𝙨 𝙖𝙣𝙙 𝙙𝙖𝙩𝙖 𝙡𝙞𝙘𝙚𝙣𝙨𝙞𝙣𝙜 𝙞𝙨 𝙖 𝙣𝙚𝙬 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙛𝙤𝙧 𝙪𝙨.” This makes sense since Reddit's valuation is at $10 billion in 2021 To boost its valuation, Reddit made a $60 million deal with Google, which will: 👉 Use its user-generated content to train its search's generative AI model and 👉 Sell online ads against it What do you think Redditors’ opinions were to the news? 🤔 And what is your take on this? Comment👇 I like challenging discussions and opinions

"Shifting Tides: Is the Era of Free Social Media Coming to an End?" 🌐 Reddit, the online powerhouse, has hit some remarkable milestones in 2022. With over 100,000 vibrant communities spanning the globe and a staggering 430 million posts (a 14% surge from 2021), it's clear that Reddit has become a digital force to be reckoned with. But despite these impressive achievements and reported ad revenue of $100 million (€92 million) in 2019, one striking fact remains: Reddit is not profitable. 🚫 However, a storm is brewing within this social media giant. In an unprecedented move, thousands of subreddits, the lifeblood of Reddit's unique communities, have gone dark in protest against recent changes to the platform's business model. 🤔 What sparked this outrage? Reddit dropped a bombshell by announcing that it would charge third parties for accessing its application programming interface (API). This shift, while seemingly justified due to the rise of generative AI and the need to protect Reddit's vast data, has sent shockwaves throughout the Redditverse. 💔 The consequences have been swift. Beloved apps like Apollo and RIF have announced their imminent shutdown due to the new charges. This abrupt turn of events has left users frustrated and moderators, who play a pivotal role in Reddit's ecosystem, claiming that the company is resorting to removing those who support the protest. ⚠️ Why should we care? The business model that has long allowed us to enjoy a free and open internet, where we pay with our attention rather than our wallets, is evolving. The days of accessing top-notch experiences on social media without paying may be drawing to a close. 🌐 Reddit is set to lose roughly 57 million daily users and 100,000 thriving communities, putting its pulse in jeopardy. With the loss of its strong user-driven approach, the unique content creation and sharing that attracted millions, especially Gen Z, could fade away. Moreover, the essence of Reddit, its diverse subreddits, which are the lifeblood of the platform, may face a bleak future. 💰 The crisis at Reddit reveals poor crisis management as the CEO remains steadfast despite widespread protests. (Musk Inspired CEO) It's a missed opportunity as alternative solutions, like acquiring Apollo and RIF for less than 10 million combined, could have preserved user experience without extinguishing beloved apps. 📈 Ultimately, Reddit must recognize that it needs its passionate Redditors more than they need the platform. The dissatisfaction stemming from the recent changes should serve as a wake-up call for the company to better understand and cater to its users, safeguarding the spirit of innovation and community that made Reddit a household name. ✍️ What are your thoughts on the shifting landscape of social media? Share your insights below! #crisismanagement #business #reddit #opportunity #management #future #socialmedia #ceo

Hey, what's going on over at Reddit, Inc. right now is like a classic example of how to totally wreck customer trust. It's like something you'd study in business school, you know? Reddit, Inc. is a huge deal, with like a billion users and making around $500 million a year. It's like one of the last big discussion forums on the internet. And as they're getting ready to go public this year, the recent events there are super important. So get this, more than 6,000 subreddits (those are like different forums) have straight-up stopped working, some for at least 48 hours and others indefinitely. And that's a real problem for Reddit because most of their money comes from people engaging with the content. To try and make more money before their big IPO, Reddit decided to charge for access to their API. But man, they really messed up in a few ways: 1️⃣ They haven't really invested in making their product better over the last 15 years. Other tools made by outside developers have become way more popular than Reddit's own stuff, and now they're making those tools shut down. 2️⃣ They don't seem to care about their users (who create content for free) or their moderators (who give their time for free). It makes you wonder if they really understand their own customers. 3️⃣ They've been doing some shady stuff. The CEO lied about being blackmailed by a developer partner, but then the partner released a recording of the conversation and proved the CEO was lying. Plus, the CEO has a history of editing negative comments about himself on the site. That just destroys trust even more. 4️⃣ They're terrible at communicating. They didn't give clear timelines or pricing to the developer partners. The CEO said they'd have an open discussion with users on Friday, but then they ended it early after only answering a few questions. This whole Reddit mess is a reminder that you shouldn't throw common sense out the window just to make some quick cash. Oh, and by the way, if your team is running ads on Reddit, keep an eye on the situation. Users might start hating on brands that support the platform. Hope that gives you the lowdown! #business #reddit #web3 #marketing

The Promise of Web3: Can It Address Reddit's Escalating Social Platform Problems? In a similar breath, Web 3 developers are creating solutions in the social media realm. The decentralization, transparency, data ownership, and non- ... More Info. The Promise of Web3: Can It Address Reddit’s Escalating Social Platform Problems? https://lnkd.in/duXe7dJN #trending

Over the past decade, Reddit has transformed from a platform that was often embarrassing and occasionally amusing to one that is seen as essential. It has become a hub for various niche communities and a repository of knowledge on a vast array of topics. However, Reddit's decision to charge for API access, which was previously free and is essential for third-party Reddit applications, has sparked protests among its user base. Many of Reddit's largest communities are planning to go dark in response to this change. How has Reddit's evolution from a platform for niche communities to an essential hub of knowledge reflected broader changes in the digital landscape? What are the potential long-term consequences of Reddit's decision to charge for API access? How might this affect the platform's user base and its perceived value? How does the pursuit of profit influence decisions made by platforms like Reddit? What are the implications of these profit-driven decisions for users and for the broader digital ecosystem? https://lnkd.in/eZXc2QSe