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Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years
(www.forbes.com)
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this post was submitted on 28 Feb 2024
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What in the fuck has Reddit developed in the last year that cost half a billion fucking dollars?
Hey, it's not easy to make a shitty new redesign of a site. That stuff costs money.
Twice
Remember when they killed API access claiming it cost the 10s of millions each year? Turns out they could have just not spent so much on reddit avatars and we'd all still be there today.
They could have just paid the CEO a little less to cover it too. It was just greed so they could sell the data at a pittance, even though the cat is already out of the bag.
I haven't seen that "you broke reddit" message in a while. Maybe they bought more servers?
FTFY
The two options to fix that are either buy more servers or make enough idiotic decisions to drive your user base away that traffic is no longer an issue anymore.
I wonder which one reddit opted for?
An ugly new logo, continued development on world's shittiest mobile app, and a terrible brand new UI for the website (not to be confused with the previous terrible new UI)
Oh yeah, they also did some NFT bullshit, almost forgot about that one.
3d probably shouldn't be in logo's except mabye for the apple photos app because coloured glass
Skeumorphism has entered the chat
Let‘s see, almost 200 million to their CEO, almost 100 million to their COO. They also got a new logo!
Jokes aside I‘m as floored as you.
Monetization and adware.
Maybe they're bankrolling theDonald's NYC fines.
They are paying lots of programmers. 99% of which are unneccessary, to enshitify the site with new features that subtract value for users.
They were giving reddit gold to everyone
you think 'place' was free?
They gotta sell access to AI companies somehow.