this post was submitted on 08 Feb 2024
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[Reuters BreakingViews] Investors will say “OK Boomer” to aging Reddit (www.reuters.com)
submitted 9 months ago by athos77@kbin.social to c/reddit@lemmy.ml
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[...] a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.

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[–] athos77@kbin.social 26 points 9 months ago* (last edited 9 months ago) (1 children)

They don't. But the dot-com frenzy where people threw money at anything tech-related is long over, and investment firms aren't going to give lots of money to a barely-profitable business with a long history of bad decisions. Oh, they'll buy some stock but it's not going to be the massive frenzy Huffman desperately wants. He's going to take whatever he gets and work on his doomsday bunker, and reddit will continue to contribute to the enshittification of both the internet, and society in general.

[–] sentient_loom@sh.itjust.works 13 points 9 months ago (1 children)

Yep. I understand the desire to make enough money to retire. But I don't endorse turning a public service into a predatory wasteland in a pathetic attempt to retire young.

[–] athos77@kbin.social 8 points 9 months ago

He wants the money for his doomsday bunker.