Who Owns Reddit? A breakdown of the type and nationality of shareholders.

submitted by magnora7 from i.redd.it

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[–]wuzizname 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (10 children)

Still hasn’t turned a profit. Like not at all in all these years.

[–]IridescentAnaconda 15 insightful - 2 fun15 insightful - 1 fun16 insightful - 2 fun -  (1 child)

It doesn't need to. It just needs to serve as a platform for propaganda.

From the perspective of the deep deep pockets that own almost everything, Reddit is a service worth paying for.

[–]madcow-5 11 insightful - 1 fun11 insightful - 0 fun12 insightful - 1 fun -  (0 children)

This. A lot of social media is a tool for influence, not a profit maker.

[–]magnora7[S] 15 insightful - 2 fun15 insightful - 1 fun16 insightful - 2 fun -  (3 children)

It's a paid propaganda service. It makes money from corporations paying it to broadcast their specific propaganda. It's okay that it's a money loss overall, because the purpose is to push propaganda on to the masses, not to make money.

[–]AFutureConcern 10 insightful - 2 fun10 insightful - 1 fun11 insightful - 2 fun -  (1 child)

Yes, exactly. I think people need to change their mindset from "all these companies want to do is make money" to "all these companies want to do is push their agenda". Having power and reshaping society is the goal of having lots of money anyway; it's the root of their desires. If all they wanted to do was turn a profit they wouldn't engage in the level of censorship that they do.

[–]magnora7[S] 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (0 children)

Exactly. Then they make the money back later too as people adjust their spending and working habits based on what the propaganda tells them.

[–]jet199 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Even newspapers like The Guardian have started taking cash to print certain stories.

I was curious why a left-leaning publication like The Guardian has so enthusiastically and persistently covered this debate from almost entirely one side. So, I wrote the newspaper’s press office to inquire about the “Supported by Open Society Foundations” statement indicated on The Guardian’s website under its “Genderqueer generation” series. I was sent a very quick response informing me that the “Open Society Foundations made a grant to The Guardian for reporting on gender equality, not specifically for that series.” I then asked The Guardian to confirm what I had found on the its website regarding OSF funding. The Guardian verified that they had received a $250,000 one-year grant from the OSF last Fall. 

https://savageminds.substack.com/p/whats-driving-authoritarianism-today

[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

Amazon didn't either for years.

[–]wuzizname 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

For 15 years? Amazon was profitable before that.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Looks like it took 6 years for Amazon. What would you pay to be the world's most popular online retailer? Same deal with reddit except owning the most popular forum is way more lucrative. You can control what people think instead of just peddling Chinese junk.

[–]jet199 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

That's called tax avoidance.