The company, which generates its revenue primarily through advertising and also offers premium access for $5.99 per month, has yet to turn a profit

Ya, this seems like a bad investment. And the need to turn a profit will likely lead to a worse and worse user experience as Reddit tries to monetize them.

[–] givesomefucks@lemmy.world 12 points 10 months ago

Yep.

Al the "disrupt the system" tech is just something that people use because it operates at a lose. The vast majority of the time the changes to turn a profit kill the platform.

Twitter has been around forever, and never turned a profit.

That didn't stop an egotistical idiot from spending billions in it tho. Because he thought he was smart enough to easily do it.

[–] gregorum@lemm.ee 7 points 10 months ago

spez is using Musk’s Twitter business model. it’s sure to work— just not the way he hopes…

[–] Pyr_Pressure@lemmy.ca 2 points 10 months ago

If they can't make a profit now I'm not sure how they expect to get more and more profits every year / quarter for the investors to pocket.

[–] Aurix@lemmy.world 8 points 10 months ago

Especially the worse the AI botting problem will become. Let us hope Lemmy will have good tools and a community to mitigate that.

[–] Moobythegoldensock@lemm.ee 23 points 10 months ago (1 children)

Get ready for the next influx when the Reddit platform goes to shit even more.

[–] ImplyingImplications@lemmy.ca 11 points 10 months ago

Now I get to look all smug with my 7 month old account!

[–] HowMany@lemmy.ml 16 points 10 months ago

And this is why we've all been leaving.

[–] iMastari@kbin.social 15 points 10 months ago* (last edited 10 months ago) (1 children)

Wouldn't it be funny if there was another blackout, a day or two before the IPO?

[–] sxan@midwest.social 11 points 10 months ago (1 children)

Sadly, all of the admins with any balls (metaphorically) have long since quit the platform. All that's left there are spineless brown-nosers.

[–] MDKAOD@lemmy.ml 9 points 10 months ago

I moderated a very small local county subreddit. It was a ghost town behind another larger county subreddit so when the blackout occurred, I just went dark. Received the same threatening dm everyone else received, then eventually removed as moderator. I suspect I have since been shadowbanned. I can't prove it, but replies to comments made are late now and after the conversation has moved on. Vote count also sits at one for 24 hours or so. Again, pure speculation. But something is weird and reddit has definitely changed in the last year. Coinsiding with this change, the user base has become significantly younger very quickly.

[–] ConstipatedWatson@lemmy.world 13 points 10 months ago

... And so it begins...

[–] Pons_Aelius@kbin.social 13 points 10 months ago* (last edited 10 months ago)

They are about 2 years too late.

The rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually need to generate profit and not just show user growth to be attractive to investors.

The IPO will not go as spez dreamed for so long.

[–] leaskovski@kbin.social 13 points 10 months ago

This is it then. The IPO will push them into more money making ideas this pushing more users away and into the fediverse

[–] vanderbilt@beehaw.org 6 points 10 months ago

Good job on them cratering their value before that launch.