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this post was submitted on 16 Jun 2023
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No Stupid Questions
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No such thing. Ask away!
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The main sticking point is profitability. Not many platforms have managed to create a business model that's sustainably profitable. Reddit certainly hasn't. Now they're basically looking for a way to cash out so they're prioritising short term profitability over everything.
Honestly if reddit had come, cap in hand, and says "Hey what can we do to be awesome so you'll buy premium"
And then listened to our advice? I'd have bought premium to help em out.
Instead, they are acting genuinely insane. Like back when my brother was on cocaine and Adderall and would try to hit me up for money.
Reddit can die.
Is it though? Or is it that they need to satiate the VC backers? Could a platform keep going if it was content to pay it's employees and have some amount of reinvestment money and just exist without the need for infinite growth?
They're just trying to survive until they IPO. Then they can cash out and who gives a fuck about reddit after that.
The issue is the mindset of profitability.
For a platform like reddit, the mindset for sustainability must be based on efficiency and utility, not profitability.
These platforms are called platforms rather than websites or simply "companies" for a reason. They act like a public utility rather than a for profit service of convenience. Public utilities also suck ass when operated as for profit businesses.