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reddit fucking destroyed the plex share community. (lemmy.world)

submitted 1 year ago by BraBraBra@lemmy.world to c/piracy@lemmy.dbzer0.com

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I'm devastated! Holy fuck it's the end of such a great resource. Is there any other plex share communities active at all?

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[-] Seasoned_Greetings@lemmy.world 158 points 1 year ago

"Become profitable" is just their stated goal.

I think that their actual goal is to look profitable for the upcoming ipo so that the CEOs can cash a fat check and leave. They likely don't care about what happens after that.

So the "become profitable while simultaneously destroying everything that made it valuable" platitude is more like "they're cutting down the tree for the wood without thinking about the squirrels"

[-] Neato@kbin.social 16 points 1 year ago

But are investors this stupid? Who invests in an IPO without doing research on the company's activities? If they check the internet and it's countless articles about how their users and moderators are pissed and leaving, why would anyone think it's going to be profitable?

[-] prole@sh.itjust.works 22 points 1 year ago

The sad thing is that reddit will probably do alright for at least a few years. It may not be an awful investment in the short term.

That said, it'll slowly burn out and investors will be left holding the bag. But that's alright, because Steve Huffman will have gotten his payday and retired to the decommissioned missile silo that he converted to luxury apartments in case of doomsday. All he had to do was fundamentally change the way people use the internet by selling the company that his two smart buddies created.