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Yep, and Reddit in particular is the culmination of over a billion dollars' worth of VC funding. The changes we're seeing are unsurprising when you take that in
by spondylosaurus 3y ago
Yep, and Reddit in particular is the culmination of over a billion dollars' worth of VC funding. The changes we're seeing are unsurprising when you take that into account—even though Reddit has never been profitable, those investors are still expecting their return, which forces Reddit to either start bringing in serious revenue or have a promising IPO (or both). None of this has ever been for users; we're merely a driver of growth/profit to them.
Investor-backed platforms offer the illusion of "free public utility," but they were never meant to serve us in the first place. Their goal has always been to cash out.
- weaksauce 3y ago> even though Reddit has never been profitable they sure had a good trajectory before huffman fucked that up and bought moonshot projects and hired 2,000 employees and did everything possible to mess up that trajectory so they could pump and dump for an ipo.
- myspy 3y agoIsn‘t that a problem of shareholder thinking? A problem that imo should be meanwhile singled out as a bad way to handle a company. Shouldn‘t it be handled with thinking of all stakeholders? This would result in better management decisions, or not?