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Reddit to lay off about 5% of workforce (www.livemint.com)

submitted 2 years ago by [email protected] to c/[email protected]

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[–] [email protected] 10 points 2 years ago (1 children)

For sure it's unconfirmed. The only things we really know for sure are:

Reddit wants money for API calls
Their monetization structure is unreasonable
The only possible outcome of their monetization structure is the death of third party apps
Reddit is an American company and conducts itself with the same grace and farsightedness as most of them

Which leads be to the conclusion that the thing you've said is quite possible

[–] [email protected] 3 points 2 years ago (2 children)

I'm not American, but isn't it mandated by law over there to do stuff like this, to create the maximum profit for shareholders?

Forgive my ignorance of US laws!

[–] [email protected] 8 points 2 years ago

@LoreleiSankTheShip @Cube6392 it is thought to be true, but it is not.

[–] [email protected] 8 points 2 years ago

No such laws. The only laws for publicly traded companies are that they must be open and honest with shareholders about the financial status of their organization. You're very much allowed to run a business that stays small forever