this post was submitted on 04 Sep 2023
284 points (96.1% liked)
13435 readers
1 users here now
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They were doing mostly okay before with premium and donations. It's just that they want even more money.
The weird thing is that if spez hadn't spent tens of millions of dollars on things that reddit kept telling him they didn't want - reddit crypto, reddit NFTs, etc - they likely would've been profitable way before now.
Yeah, they could've been profitable a long time ago if they grew the staff slowly and kept their head down
But they wouldn't be Facebook level profitable. Their investors don't care much about them being profitable, they want 100x or bust