That’s a recent quote from Reddit’s VP of community, Laura Nestler. Here’s more of it: This week, Reddit has been telling protesting moderators that if they keep their communities private, the company will take action against them. Any actions could happen as soon as this afternoon.
Too big to fail doesn’t mean it’s too big to decline.
I don’t think reddit is going anywhere as a company and a platform, for a while at least. But that doesn’t mean it can’t lose a good share of it’s users to competitors.
I don’t think the comparison with Facebook is a valid one though. Primarily because Facebook is a “true” social media platform. You have your friends and family on it which creates a very strong network effect.
Reddit on the other hand is primarily a content aggregation platform. I don’t need to convince my friends and family to switch from it.
Additionally, Facebook is a lot more successful than Reddit financially. They make disproportionately more money per user due to having very targeted advertising. They own other platforms like Instagram and whatsapp. Unlike reddit, Facebook doesn’t need to concern itself with having financial troubles.
A better comparison would be tumbler, which was quite big and while it still exists, it’s a shell of its former self.