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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway (www.cnn.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

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[–] AdmiralShat@programming.dev 5 points 8 months ago (3 children)

Haven't most places moved to 401ks for this reason? I'd never participate in a pension and I imagine the vast majority of those working in the tech industry are smart enough not to as well

I could be wrong I'm basing all this on assumptions about others intelligence

[–] originalucifer@moist.catsweat.com 17 points 8 months ago (1 children)

wouldnt it be cool if retirement didnt rely on the market, at all? in any capacity. like, if we werent forced to go with a 'lower risk' tier of the house of cards.

[–] AdmiralShat@programming.dev 10 points 8 months ago

The value of money is based on the market, all aspects of finance are based on economies. Even just a straight up savings account gradually devalues

We fucked up a species when we traded communities for economies.

[–] bassomitron@lemmy.world 4 points 8 months ago (2 children)

Pensions are amazing, why the hell would you not want one? 401ks are nice, too, and ideally you find a gig that does both. Yes, there are some companies that have fucked their employees' pensions over, but those are in the minority and doing so is illegal, so those companies tend to be doing other illegal shit as well (e.g. the infamous case of Enron).

[–] AdmiralShat@programming.dev 7 points 8 months ago* (last edited 8 months ago)

A 401k is something, an account, I legally own. A pension is a promise.

[–] nooneescapesthelaw@mander.xyz 1 points 8 months ago

I dont want to be pinned down to one company, or because i may want to retire earlyz or because i want actual full 100% control of how my money is invested so that i know it's inline with my religious beliefs and morals

[–] namingthingsiseasy@programming.dev 3 points 8 months ago

And yet, many (maybe even most) countries in Europe operate on a pension system for retirement. That would include tech workers in said countries as well.

But American companies (and Canadian too?) have mostly done away with them by now