> infrastructure, network effects, and brand recognition
That's reasonable, but then you leap from there into giving credit to Reddit per se, instead of a Reddit-like company that would exist in Reddit's place if Reddit didn't exist. That's where we disagree. In Reddit's absence, another company would rise to do the same thing, therefore Reddit is providing little to no unique value to the world. The delta of the world with and without Reddit is close to zero. Hence no value.
> If it's really "the users" that bring all the value to the table, then why can't those users manage to organize into a community that's not run by greedy profiteers? Because the "running" is where the real difficulty, and thus the real source of value, is.
This is a conflation of necessary and sufficient conditions. Infrastructure, by itself, is a necessary but not sufficient condition. So are users. Either of these things in isolation have no value because neither of them are sufficient conditions.
I’m not sure how you can say Reddit deserves none of the credit for creating Reddit. It has to be at least as valuable (from a revenue perspective) to create the site as it costs to design and run one of the most trafficked site in the world otherwise no company would just magically appear in its place.
You almost act as if some people stumbled upon great software/infrastructure and improperly started charging people to use it. This isn’t some mountain spring some company claimed and is now charging the tribes down stream for access.
The communities on Reddit aren’t the valuable part. I don’t visit 99% of the subreddits. The valuable thing is I can go on one site, find a subreddit for everything I’m interested in, participate with the same account and have no learning curve/same UI/UX as the other communities I’m a part of. You can try to argue that those communities being there is what’s valuable to me, but without Reddit they all wouldn’t be on the same site.
Your argument reads as some poor adaption of the labor theory of value. Right now Reddit isn’t profitable, as long as these economics hold, no one is going to fill in for Reddit if it were to close. And all the mods and users can’t change that.
> without Reddit they all wouldn’t be on the same site.
Without a Reddit-like company, they wouldn't all be on the same site. That's the key distinction. If a clone won't arise if Reddit shuts down, then yes, you are correct, Reddit is adding a lot of value. As is, given they have a monopoly on this vertical of social media due to network effects, whether or not a clone would arise is a hypothesis that we can't test, but my money would be on a clone arising in their absence.
"Reddit is providing little to no unique value to the world. The delta of the world with and without Reddit is close to zero. Hence no value."
That's not the definition of "value" that everyone uses.
Suppose there was a bread company called Breddit that baked loaves of bread and sold them. It's very easy to argue that if Breddit didn't exist, someone else would bake and sell bread. No duh. But that doesn't mean a company that makes bread doesn't have value.
There's pretty much no company in the world that offers unique value...
It's not analogous. The bread company is lowering the price by providing competition. That's value that I get from their existence, that I wouldn't get if they disappeared. But I do agree with the proposition that companies in perfectly competitive markets without a differentiated product, aren't adding that much value.
> The delta of the world with and without Reddit is close to zero. Hence no value.
The same is true for the users. There are 8 billion people on the planet, two thirds of which use the Internet. There's no shortage of users able to form online communities. By the above logic, those communities have no value since they are replenishable from a near-limitless supply of new users.
No, because Reddit has captured all users that want to use a Reddit-like service. If Reddit's users all died, Reddit and all potential substitute Reddit-like services would die. But if Reddit itself dies, a Reddit-like clone would most likely arise, because Reddit itself isn't providing unique value to the world.
That's reasonable, but then you leap from there into giving credit to Reddit per se, instead of a Reddit-like company that would exist in Reddit's place if Reddit didn't exist. That's where we disagree. In Reddit's absence, another company would rise to do the same thing, therefore Reddit is providing little to no unique value to the world. The delta of the world with and without Reddit is close to zero. Hence no value.
> If it's really "the users" that bring all the value to the table, then why can't those users manage to organize into a community that's not run by greedy profiteers? Because the "running" is where the real difficulty, and thus the real source of value, is.
This is a conflation of necessary and sufficient conditions. Infrastructure, by itself, is a necessary but not sufficient condition. So are users. Either of these things in isolation have no value because neither of them are sufficient conditions.