this post was submitted on 10 Jun 2023
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I think there may not be enough competent volunteer mods to take it over. They could replace them with paid reddit employees like other big platforms but that's gonna cost them more than the 20mil a year they apparently think 3rd party apps are costing them.
At this point in time, reddit cares about numbers, not competency. It doesn’t matter If a sub (or the entire site) degrades over time, as long as IPO numbers are maximized so they can cash in.
How soon is the IPO? New mods on the biggest subreddits would make those subs horrible for a long time while they figure out how to moderate it properly. Even when mods do their regular work, regular folks can get very heated about mod behaviour. Can you imagine that happening across all major subreddits, all at once?
It doesn’t have a hard date yet and they will likely wait till the economy is generally better, likely when the nasdaq hits a new high so they can float for the highest price per share