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Joined 1 year ago
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Cake day: June 10th, 2023

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  • At a high level it just comes down to the company not being structured to generate profit – fundamentally it exists to justify moving money from investors to the owners of reddit. That has worked up until now but in the current economic climate investors are looking for a return and it’s exposing how many tech companies have been burning cash because of how easy it was to get with minimal accountability. Any feature reddit adds hasn’t actually had to increase revenue, it’s had to convince investors that it is going to increase revenue, which is why the few features they’ve added have basically been clones of features that attracted investors to other platforms (like the video streaming thing)

    After nearly two decades of running the company that way it’s going to be hard to pivot to actually generating money directly to cover what I imagine are loads of unnecessary expenses and inflated salaries