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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] 8 points 2 years ago

Honestly, I never really figured how something like reddit (or most social media) was going to be profitable to begin with. At least in a long term sense. They're entirely dependent on ads, but ads don't make a lot of money unless you're running the network. So you end up being an ad business, not a social media business. But of course, no one wants to watch an ad before / after every post - yet that seems to about be where reddit is coming to. And these people don't want to pay to be on social media, or else things like "The Well" would have been much bigger than they are (how many people are clamoring to pay $15 a month lol).

I just also think, if you haven't found a way to make money in 18 years, it seems like a foolish bet that you'll be able to keep running the same kind of business and now find a way.