this post was submitted on 17 Jun 2023
1159 points (98.7% liked)

Lemmy.World Announcements

29099 readers
6 users here now

This Community is intended for posts about the Lemmy.world server by the admins.

Follow us for server news 🐘

Outages 🔥

https://status.lemmy.world/

For support with issues at Lemmy.world, go to the Lemmy.world Support community.

Support e-mail

Any support requests are best sent to [email protected] e-mail.

Report contact

Donations 💗

If you would like to make a donation to support the cost of running this platform, please do so at the following donation URLs.

If you can, please use / switch to Ko-Fi, it has the lowest fees for us

Ko-Fi (Donate)

Bunq (Donate)

Open Collective backers and sponsors

Patreon

Join the team

founded 2 years ago
MODERATORS
 

Wow. Front page of huffpost.com right now. Interesting...

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 12 points 1 year ago* (last edited 1 year ago) (1 children)

“We can’t subsidize other people’s businesses,” Huffman said. “We didn’t ban third-party apps — we said, ‘You need to cover your costs.’”

Too bad the article author does not put this into context with counter-arguments. "Your cost" saying that's the cost is a wild claim. They supposedly set an arbitrary, high price.

“I think every business has a duty to become profitable eventually — for our employees shareholders, for our investors shareholders and, one day as a public company, hopefully our user shareholders as well,” said Huffman, who co-founded the site in 2005.

I'm not so sure every shareholder is necessarily looking primarily or only at money return. It's equally probable a shareholder may be a shareholder to support the platform - even if it operates at a loss - because it's a good or important platform.

[–] [email protected] 3 points 1 year ago

Capitalism unfortunately does not care about the investors there to support the platform. When 80% of stocks are held by the richest 10%, the market moves according to their desires. Money, money, and more money.