What an awful time for a tech company to IPO, I bet they are kicking themselves for waiting so long. A decade ago the idea was to maximize for user engagement

What an awful time for a tech company to IPO, I bet they are kicking themselves for waiting so long. A decade ago the idea was to maximize for user engagement and you can always monetize later. As companies began to monetize we adopted to term " enshittification" to describe how that feels on the user perspective. Today, after several products have gone down this path, we see that the revenue of a fully monetized community is less than investors originally thought, and there are moat concerns. Reddit is way to late to IPO. They cannot sell the idea of future growth. They have already gone deep down the enshittification path and are still not profitable. On top of that, they missed the top of the market for what they are selling by several years. Are we watching the internet die? We are certainly watching a lot of it become worse, and the Reddit IPO is a good time to point that out.