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One big issue with Reddit is that it is mismanaged. With the revenue they are generating ($456 million USD), it should be more than enough to run a site like Re
by Maxion 3y ago
One big issue with Reddit is that it is mismanaged. With the revenue they are generating ($456 million USD), it should be more than enough to run a site like Reddit.
Over the last few years they've invested heavily in things that are very unrelated to the core features of the site, such as NFTs and other odd things that are barely visible, while firing people (Victoria & the death of r/IAMA, and snackexchange) that brought a lot of traffic to the site.
If a Reddit competitor were to surface that treated the company not as a facebook competitor // unicorn but rather than a company that is willing to reach a certain size and then stay there, none of this would be problems.
- that_guy_iain 3y ago> One big issue with Reddit is that it is mismanaged. With the revenue they are generating ($456 million USD), it should be more than enough to run a site like Reddit. So who gets fired? How many people are you willing to make unemployed? What services get removed? What improvements stop? Realistically, the reason they don't make a profit is they're aiming for growth and they're getting the growth.
- luma 3y ago> So who gets fired? Everybody involved with the NFTs, with this API decision, with everything about New Reddit, the dumb crypto currencies, do we need to go on? It's a long list.
- that_guy_iain 3y agoSo basically you're firing everyone? I bet you called Musk stupid for firing so many people at Twitter too.
- Capricorn2481 3y agoFiring people who manage the ethics and technical specs of your site is different from shutting down a superfluous NFT division. That is a gold rush for stupid people.
- that_guy_iain 3y agoThey listed a whole group of people not just the NFT part. And that list was basically everyone.
- dingledork69 3y agoEveryone involved with awful decisions, yes.
- SkipperCat 3y agoBut isn't making awful business decisions part of the human condition? They happen so often that I think they're not exceptions but the norm for almost all large companies. Its almost impossible to name any company that has not created at least a handful of major flops. And there are plenty of companies that continue to bungle and make multi-million dollar mistakes almost constantly. What boggles my mind is that there are so many companies that continue to thrive while blowing millions of dollars on stupid decisions. Must be the power of having cash-cow products (and maybe some monopolistic traits too).