What Reddit Got Wrong

submitted by BlackhaloPurity Pony: Pусский бот from eff.org

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[–]0_0 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (0 children)

Reddit has an admirable record when it comes to defending an open and free internet

Come on, as if that wasn't done in self-interest.

[–]Tarrock 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (1 child)

Whacky idea: Maybe companies that are unprofitable shouldn't exist, and neither the government nor investors should be propping them up.

But we all know this is done cause social media is the modern public square, and they'll keep the propaganda tool going at a loss for propaganda alone.

[–]captainramen🇺🇸🛠️ MAGA Communist 🛠️🇺🇸 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

That's the thing. Other than the banks which companies are actually profitable anymore? Like real profit not that EBITDA bullshit? I've been a dev for over two decades, not just in the US but the EU too, and I don't think I've ever worked at a company that turned a profit.

[–]BlackhaloPurity Pony: Pусский бот[S] 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (3 children)

Reddit is transparent about the fact that the company is not profitable. But heading into their IPO later this year, with a potential recession looming, they are desperate to show that the platform can make money. This appears to have kicked off the second stage of “enshittification”, in which users are squeezed to appeal to business customers.

[–]Maniak🥃😾 9 insightful - 1 fun9 insightful - 0 fun10 insightful - 1 fun -  (1 child)

Yeah, the company is "not profitable", the cunt-in-chief seems to love saying that, as if the people making the entirety of its content for free had some obligation to serve the profit-minded executives.

And I'm sure that by saying this, he totally means that he hasn't been making any kind of money from it personally, and wants more.

Their current infrastructure costs them "too much"? Poor babies.

Maybe they could get rid of deadweights who cost money while not bringing anything of value, such as spez, and use those gains to hire devs and techs who can fix their shitty code and infrastructure so it can scale without making costs explode?

Nah, better to just focus on the ultra short term and make a quick cash grab.

[–]NetweaselContinuing the struggle 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Yeah, the company is "not profitable",

There are a lot of hospital systems that are "not profitable" too.....

[–]NetweaselContinuing the struggle 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (0 children)

Oh, we're not profitable NOW, but we can be, once there is a bunch of shareholders who can "force" us to be profitable.

That way we will be blameless for all the terrible things that we want to do, because it will then be "out of our hands." Gotta do what the shareholders want, ya know. No matter what.

Aren't you set to be the holder of a majority of the stock?

This interview's over. <tears away mic>