Wasn't this goober just saying reddit wasn't profitable? What revenue lol?
this post was submitted on 14 Jun 2023
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Profits are revenue minus expenses. If all the revenue goes into garbage like nfts and new reddit (or up spez's nose) there can be a lot of revenue but no profit.
Ah, well said. Thanks for clarifying!
Great find, thanks for sharing!
I mean he's not really wrong some subs are already opening back up, without indefinite closure nothings going to really change
I agree. I think that the whole movement should move to indefinite closure. If anything, it gives us a reason to pop some popcorn!
Makes me wonder what reddit’s usage stats will be in late July or early August once things settle into whatever normal they’re going to be. I can’t imagine they can pull good mod tools out of their asses quickly enough to combat the spam that’ll undoubtedly crop up without automod, etc.
I think the question is whether this move will ultimately annoy the regular casual lurkers enough. Will it make an impact on reddit’s stats and reputation or not?
A flood of spam posts hawking cryptocurrency and hot singles in your area might even look on the usage metrics for a while
They'll probably just plug Automod into OpenAI's content moderation API or something if too much spam piles up
Oh dear gods, that is the most horrible idea I have heard in my life and yet I somehow fully expect that kind of bullshit.
AI content moderation will be chump change if they get enough takers on this new API pricing. Plus they're wanting to IPO at a time when every Fortune 500 is jumping on the AI bandwagon in quarterly reports, so I'd be surprised if they don't already have teams researching this internally.
Would be hilarious if open AI decided to up their API cost 1000x for Reddit
Lmao! But he claimed reddit wasn't profitable
Revenue and profits aren't the same thing. Profits are what is left of the revenue after expenses are paid.
Which tells me he's probably not that good at his job (which should be maintaining a balance between the two IMO)...
Don't have to pay taxes if you technically don't make profits
Exactly what a struggling CEO is expected to say to keep employees from jumping ship.
I mean, he's right. They have their work cut out for them though. They'll need to be on top of things especially regarding moderation, otherwise they will probably continue to bleed users.
They never really had real moderation to begin with, just random volunteers that they gave way too much power to, which is going to be a big problem when they go public. They'll be under a lot more public and government scrutiny.
This is a good point. Well, they either have a plan or we're going to witness a top 20 website fail in real time.
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