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Reddit isn’t profitable therefore technically it doesn’t profit from anything.
by that_guy_iain 3y ago
Reddit isn’t profitable therefore technically it doesn’t profit from anything.
- pmontra 3y agoSo by their logic they should close their company.
- that_guy_iain 3y agoI assume this "their logic" is some made up "their logic" for a straw man argument. Their logic is they should make other for-profit companies who make money using their APIs pay for using their APIs?
- pbhjpbhj 3y agoDo you reckon their C-suite are not waged? (What revenue are they working with?) This is a common issue with discussion of companies, people say "look they're not making any money" just because the company accounts are not recording profits. But if you pay out all your money as C-suite wages (for example) then you have "no profits" as a company but people are certainly profiting. Another angle is political steer; you can make profit outside the company, or make social change, and so forego intrinsic profit.
- Veen 3y agoNo doubt they are waged and have a substantial number of shares, which is why they are desperately and rather scummily trying to juice short-term profits pre-IPO. There's a big pay day in the offing, and they don't care who they roll over to line their pockets.
- that_guy_iain 3y agoSo you're saying the C-suite aren't profiting from their work? They do no work? C-suite and other employees profit from selling their time to to Reddit. It's kinda weird to start acting like that isn't how employment works.
- skinnymuch 3y agoThat’s what they’re saying. They aren’t saying that’s not how it works.
- pbhjpbhj 3y agou/skinnymuch had it right, sorry if I made it confusing. Basically I'm saying even if the company report no profit, then the executives are probably making bank (earning large personal "profits"!).