If the point was to be profitable, I would get it. But that's not the point. The point is to lock down their users into their app so they have a more solid look

If the point was to be profitable, I would get it. But that's not the point. The point is to lock down their users into their app so they have a more solid looking IPO. But the guy planning the IPO is repeatedly saying that reddit isn't profitable. If they wanted to make money, they could've charged an amount for the API that covered their costs and made them a profit. Or they could've required the apps to show their ads. Or they could've said that the free API access is now only for reddit gold subscribers. They're instead charging an amount for the API that clearly no app can afford, not negotiating at all, and locking nsfw content out of the API (it's already locked out of the mobile site). The point is to lock down the users. Not profit, at least not right now.