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To be honest, I don't really find this too surprising. Reddit isn't a newspaper, they don't have teams of editors to fact check and verify sources, they don't h
by SilverBirch 4y ago
To be honest, I don't really find this too surprising. Reddit isn't a newspaper, they don't have teams of editors to fact check and verify sources, they don't have teams of lawyers to handle complex legal wranglings around whistleblowers. It's just a super weird place to go to be a whistle blower. They've got a sea of cat gifs, insurrection content and child porn to wade through, it's no surprise to me their default response to literally any request from government is "Yes".
I think people have it in their head that all social media companies are Facebook - hugely profitable behemoths that dominate the web. But in reality, Reddit is like Twitter, a good day is a day where they keep the lights on. Reddit started looking at an IPO in 2021, and filed a draft with the SEC in Dec '21, valuing them at around $15Bn. That was at the peak of the market, comparables have halved since then, which means their likely IPO value is lower than their last private funding round. And once they're public they really need to make some money.
So yeah, I think we need to be realistic what these companies are, they're weak. They have no business model, and yes, anyone big enough is going to bully them - whether that's governments or whether that's other large companies.