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this post was submitted on 21 Jun 2023
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Reddit claims to be losing money, but they made half a billion dollars in 2021. (the last year that any data is available)
They've also done about $1.3 billion in fundraising over the years, ($400 mill in 2021) which is a lot of debt to take on...
So what I think is happening here is that they want to cook up the books for their IPO, that and spez seems to be in love with how Musk is handling Twitter, specifically Musk's cost-cutting measures. (cost cutting means short term stock price bumps, because the books look a bit better, after all, just look at how much money is available after you fire half the company)
It's a complete pump to get the IPO starting value as high as possible and will subsequently dump soon after going public as they cash out
Spez and Co are complete business and culture morons