Where Reddit differs among its tech peers is in its striking dependence on its user base to keep things operational. Reddit must keep its users satisfied and its efforts to expand its limited (and already unpopular) advertising formats could send users packing. 98% of Reddit’s revenue is made up of advertising income. And of that, 26% came from just 10 ad clients in 2023. Investors will be watching this closely and expect more diversity sooner rather than later
I’m not sure how much moderators could even do.
I was actually there so my view of events is pretty biased, but watching mods get removed from their position and replaced with more complying people made me think that the power dynamic was insurmountable. Regardless of how much free labor they perform, moderators don’t actually get bargaining power in return, Reddit employees untimately are above them to defend the company’s interests. Realistically, the function of a Reddit mod is to spare admins the grunt work of ground-level moderation decisions.