Kaizen Sigma’s Post

First, Happy 4th to those who celebrate! 🇺🇸🎇 Enjoy the Wednesday hangover. Now let’s dig into today’s learning about the social media platform we all know and love (or love to hate now): Reddit. They’ve been going through some things lately, to say the least. They made changes to their data API, and let's just say it didn't go down as smoothly as a cold beer at a July 4th BBQ. So, what went wrong? Well, Reddit decided to change their API pricing, which would have cost someone like Christian Selig, the developer of a popular Reddit client called Apollo, a minor $20 MILLION per year to run his app. Yeah...no. This led to a lot of third-party Reddit app developers sharing similar concerns about their future. And rightfully so. It was like a domino effect of worry and protest. So, what does this have to do with you as a small business owner? The key takeaway here is the importance of communication and considering the impact of your decisions on your stakeholders, e.g. your customers. Reddit made a significant change without effectively communicating with the developers who would be most affected. This led to protests, app closures, and a whole lot of unhappy people. So, if you're a small business owner, ALWAYS consider how your decisions will affect those who rely on your business. Before making a big change, communicate with your stakeholders, whether they're your customers, employees, or partners. Get their input, address their concerns, and make sure they feel heard. And remember, timing is everything. Reddit's changes came into effect on July 1, leaving developers scrambling. When implementing changes in your business, give people ample time to adjust. Keep the lines of communication open, consider the impact of your decisions on others, and always, always, always make sure you've got the timing right.

The Sunday Brew #32 Welcome to The Sunday Brew, weekly free curated newsletter by The Percolator. We curate the key news & events around business, tech & entrepreneurship, so you get them without scourging the internet. If you are not a paid subscriber, here is what you missed last weeks: Upgrade TOP STORY Reddit went Dark, why? On June 12, 2023, thousands of subreddits on Reddit went dark in a protest to the company's plans to change its API pricing structure. The new pricing structure would charge third-party developers for high-volume data requests, which could make it more difficult for developers to create tools that improve the user experience on Reddit. The protest was organized by the Reddit API team, a group of developers who create tools and apps that use the Reddit API. The team argued that the new pricing structure would be unfair to developers and would make it more difficult for them to create new and innovative tools for Reddit users. Read More on Vox The protest began on Monday, and lasted for 48 hours. During that time, the affected subreddits were set to "private," which means that only subscribers could view them. The protest ended on Wednesday, June 14. Some of the subreddits that went dark in protest were: r/gaming, r/mus…

One of the true hidden gems of being a part of a big community is the ability to discuss ideas and see different perspectives. It’s one of the reasons why I enjoy working at Tech Field Day and why I’m … Continue reading →

The Front Page of the Internet Goes Dark on June 12 ❌ Subreddits on Reddit are going dark, some for a few days some indefinitely. The subs will be taken private by the moderators and will be inaccessible to everyone. Recent events at Reddit serve as a stark reminder of the delicate balance between business growth and ecosystem sustainability, often referred to as the 'front page of the internet,' had open APIs, that created a thriving ecosystem of third-party apps. However, the recent decision to monetize its API - charging $12,000 for every 50 million requests or $0.24 per 1,000 requests - has been a polarizing one. Apollo, a popular Reddit app is a prime example of the fallout. To break even with Reddit's new API cost, Apollo would need to onboard 12,000 new subscribers at $5 per month immediately. The math doesn't add up, leading to the app's impending shutdown. Apollo isn't alone - ReddPlanet, Sync, and Reddit are Fun (RIF) are also closing their doors, leading to a massive Reddit blackout in protest. From a business perspective, Reddit's decision to monetize its API is understandable. The platform needs to generate revenue, and charging for API access can offset potential losses from users accessing the platform via ad-free third-party apps. However, the insanely high pricing changes have disrupted the developer ecosystem, leading to app closures and user protests - a clear indication of a strategic misstep. Monetization is crucial, but not at the expense of ecosystem sustainability. Scaling a business is a delicate dance between driving revenue and maintaining a healthy community of users and developers. #RedditBlackout #APIChanges #Reddit #growth

🚫 Reddit Blackout 🚫 Understanding the Controversial API Access Charge Something big is happening in the Reddit community today. Numerous subreddits have shut down in protest against the controversial plan to charge for access to Reddit's API. This move threatens to eliminate several third-party apps that rely on the API, disrupting the vibrant ecosystem of user-generated content. 🔍 What's happening:  ➡️ Many subreddits have gone private, blocking user access and comments, to show their disagreement with the API access charges. ➡️ Subreddits involved in the protest include r/funny, r/aww, r/gaming, r/music, r/gadgets, and even r/nba during the NBA finals. ➡️ Reddark, a tracking site, reports that 7,177 subreddits have gone dark, while others have switched to read-only mode or expressed opposition to the API change. ⚡ Why it matters:  ➡️ Reddit's API allows third-party apps to interact with the platform, but the new pricing structure will charge $0.24 per 1,000 API calls for high-volume access. ➡️ The API change threatens the viability of third-party apps like Apollo, which would cost $20 million per year to operate under the new pricing. ➡️ Moderators also raise concerns about the impact on third-party tools used to moderate the platform effectively. 📢 The community's voice: ➡️ The protest message from r/jokes highlights that Reddit should prioritize long-term viability over short-lived gains. ➡️ Moderators from r/pics stress the need for effective moderation tools and the freedom to choose how they access Reddit, warning that contributors may leave if these concerns aren't addressed. While Reddit CEO Steve Huffman has stood firm on the API changes, the protest demonstrates the strong opposition within the community. The battle for open access to the API and the future of third-party apps hangs in the balance. Share your views on this!! Follow Raj Kuwar for latest tech insights!! #OpenAPI #RedditProtest #CommunityPower #redditblackout

Who's ready to take the reddit plunge? I created a small package for brands who want to get out there, get involved with the true cannanerds, and build community. Terms: $300/month - 6 months. Why "that long?" Just like on any network, you need a solid 6 months to break through. 3 hours per week, engaging with your brand's subreddit. I've been managing brands on reddit for 2 years now, and love it! No selfies, not promotional posts, just building community. Isn't that what our industry was built on? 😀 PLUS: Snoop was one of the early investors! If you're interested, message or email me [email protected]. Happy Taco Tuesday!

What baffles me about #reddit's current biz fiasco is their decision to throw away the best source of authentic thought leadership in favor of bad ads. I've never seen a *good* company ad on Reddit. Ever. But Reddit still think the money is there, and it's trying to capture that revenue by pricing out 3rd party apps with a new API pricing strategy. And in the process, its volunteer moderator and user base are revolting in stunningly effective fashion. I think Reddit's focus on shoving more ads to its users misses its larger value prop: It is one of the few social media platforms where you can get straight-up feedback, help with problems, and genuinely new ideas. All managed and scaled by volunteers. It's a #thoughtleadership gold mine nobody's really ever touched. It's the ultimate test of non-promotionality: Can you as a brand truly be authentic with folks who will loudly tell you when you're not? Can you provide actual, helpful tips or ideas or feedback? And can you do it without a link to your demo page? Because entering these communities with a sales-minded agenda is the surest way to flop. The fact that Reddit — and really, any company — hasn't figured this out is a mind-boggling missed opportunity.

GIVEAWAY🚨here's how to enter: + sign up for & attend a Gipper demo: https://hubs.li/Q026zdFW0 OR If you’re already a Gipper user (🫶🏼), share how you use Gipper on social and tag #GoGipperGiveaway