this post was submitted on 07 Jun 2023
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Technology
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Agreed. I think the post-IPO layoffs will be aggressive in Reddit's case.
It's not clear to me how reddit could possibly "grow". They've hit peek influence, and ad-revenues haven't really been a growth factor that has excited investors. They're not really a technology powerhouse like Facebook or Google - all they have is their central product. So, when the IPO drops, all I can see for reddit is a future of aggressive layoffs and strong enshittification of Reddit as they seek capitalistic eternal increasing growth.
Yeah Reddit would make an excellent private company with the right owner and likely some re-structuring, but as a public company ooh boy.
Outside some niche subs I'm not on there more than once a day just to see if my lemmy subs missed something, and it's my last form of social media outside discord/matrix, so if lemmy does take off enough I'll probably only be there for the odd technical search, which I suspect lemmy will take care of in time.