• drislands@lemmy.world
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      1 year ago

      My theory is that reddit just doesn’t make enough money to stay open without external funding, and as they started running out of that they desperately hired anyone they thought could make the company enough money to stay afloat.

      And the dumbass ideas we keep seeing from them are the result of that. Anything to get a buck, no matter what it means to the user experience.

      • GingaNinga@lemmy.world
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        1 year ago

        I think its about their plan to go public and some hedge fund bros told them if they want a sugar daddy then they have to implement more agressive ads and subscription fees to juice valuation. I hope it massively backfires.

    • wia@lemmy.ca
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      1 year ago

      They have is ways to socialize online (reddit, Twitter, fb) and then people realized they could use them as a tool for good. They could organize, spread the word about bad companies and people, encourage others to do good, and so on. People could even turn on the platforms when those platforms corrupted.

      So yeah, the billionaires in control don’t like it that we have ready ways to call them out. Elon was pissed about people tracking their flights on Twitter and bought the platform and it’s running it into the ground. Why not. He loses nothing and gains everything.

      I think we’ll see this happen a lot more. Billionaires control everything and then we act surprised when they shut people out that expose them.

    • YⓄ乙 @aussie.zone
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      1 year ago

      Unfortunately reddit , twitter etc will never die. There will always be a subset that will keep using the platform no matter what. The only thing that can kill it is when company starts making huge loss without any user base but that’s a slow death until the said subset stops using it.

      • OhmsLawn@lemmy.world
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        1 year ago

        Yeah, however small the user base, they still have value. Even in a worst-case—Chapter 7—situation, somebody would buy the names and logos.

    • BigDanishGuy@sh.itjust.works
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      1 year ago

      I just had to check, reddit isn’t publicly traded yet. My best explanation was that spez had a strawman short 200x the amount of reddit stocks and then run the site so hard into the ground that even Musk would go whoa and Malagassy geophysicists would be getting strange readings on their seismographs.

      Now? No, they’re not actively trying to kill reddit. It’s the classic case of someone who got lucky with a startup and didn’t hand it off before crashing it.

      • Paradox@lemdro.id
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        1 year ago

        They should have IPOd in 2020, like everyone else did, but they didn’t. Why is anyone’s guess. Greed, skeletons in the closet, or whatever, doesn’t really matter, they missed the boat

      • Soggy@lemmy.world
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        1 year ago

        He did hand it off. Then he clawed his way back in amid the Ellen Pao stuff and it’s generally been going downhill the whole time.