this post was submitted on 28 Feb 2024
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Wait. Why is Reddit losing so much money? (www.businessinsider.com)
submitted 9 months ago* (last edited 9 months ago) by [email protected] to c/[email protected]
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Reddit kind of anticipates this critique in its investor docs, and argues that it didn't really start operating as a serious business until 2018 when it finally started "meaningful monetization efforts" โ€” that is, trying to make money for real.

But that's still six years ago. What has Reddit been doing since then?

One big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries...

...What am I missing? I asked Reddit comms for comment but they declined, citing the company's quiet period before the IPO.

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[โ€“] [email protected] 51 points 9 months ago* (last edited 9 months ago)

You say that like it's incompetence.

They're deliberately lining their pockets with exhorbitant executive pay-outs.