this post was submitted on 28 Feb 2024
134 points (93.5% liked)

Reddit

13620 readers
1 users here now

founded 5 years ago
MODERATORS
[email protected]
134
Wait. Why is Reddit losing so much money? (www.businessinsider.com)
submitted 8 months ago* (last edited 8 months ago) by [email protected] to c/[email protected]
71 comments fedilink hide all child comments
 

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.

Internet Archive capture

you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 5 points 8 months ago

WallStreetBets users should really set up an alternate community elsewhere (like here)

Here as in the fediverse, maybe, I don't think lemmy.ml mods would be too welcoming, seeing as how they are marxist leninists. XD

Seriously though I'm sure WSB guys have a ton of offsite back channels. Aside from short squeezes that sub seems to be running pump and dump schemes.