this post was submitted on 18 Jul 2023
399 points (94.6% liked)
Technology
59197 readers
2961 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Yes.
They are most likely running out of runway with investors refusing to keep lighting more money on fire. And since their burn rate is still more than their revenue, they are pulling out all the stops looking for any new revenue stream.
When you’re that desperate, no idea is a bad idea, and there’s no time to think anything through fully, so they are going to just keep rolling out half-assed new “features” in attempt generate more revenue. It’s sad, but it blows my mind that they’ve never been able to generate more than $350m/year with one of the largest sites on the internet (for comparison, Twitter maxed out with 20x more revenue or $7b/year), so I don’t think there’s any chance spez & co are going to figure it out in time.
Well it doesn't help when you continually invest in bullshit. If spez had just focused on maintaining the site this whole time instead of throwing money at all kinds of new features and other crap no one asked for, effectively burning cash to morph reddit into a Facebook knockof, how much better off could he have been at this point?
I don’t think a whole lot better off. I don’t think Reddit has a user base that is easily monetized.