this post was submitted on 18 Jul 2023
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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.