It seems like the community business itself is dying. Not just Reddit, but other communities and forums are all in decline. I thought it was because of LLMs, but they were already dying before LLMs appeared. Though LLMs did accelerate the decline.
The business model where a company owns a public community and monetizes through ads and search traffic seems to have just been a failed model.
The value of a community comes from the conversations and knowledge that users accumulate for free. But when the content company lowers accessibility under the pretense of protecting that content, new members stop coming in.
Platforms try to protect their assets, but in doing so, they end up damaging the ecosystem that created those assets in the first place.
The business model where a company owns a public community and monetizes through ads and search traffic seems to have just been a failed model.
The value of a community comes from the conversations and knowledge that users accumulate for free. But when the content company lowers accessibility under the pretense of protecting that content, new members stop coming in.
Platforms try to protect their assets, but in doing so, they end up damaging the ecosystem that created those assets in the first place.