we will continue to be profit driven until profit arrives
that seems to be a lot less likely to happen now lol
this post was submitted on 09 Jun 2023
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I will continue to run into this brick wall until the brick wall is no more
The beatings will continue until morale improves 
:3
Please put $1 in the :3 jar
What the hell do people expect? It's weeks before the frigging IPO. Of course they are going to do everything they can to post a profit. The users are not the customers. The users are the product. The investors are the customers! Dummies!
How can they even do an IPO when the CEO is here saying the company isn't even profitable after 15+ years?
That's perfectly normal. You're not really understanding what's up for sale. Reddit has been operating at a loss with attractive services to build a userbase. The objective the whole time has been acquisition (for the original team) or IPO (for Conde Nast). Investors will have access to these user to exploit however they like. That's what's for sale, here; the users.
The IPO is expected to raise 10-15 billion dollars. That means that investors are expecting to extract at least that and ideally (over Reddit's lifetime) several times that from the user base. Things will have to change radically to facilitate that. If we expect Reddit to reliably remain relevant for another ten years, they're going to try to suck two billion dollars out of us every single year.
The thing is, people make the data, it should be THEIRS to sell. Reddit and all other websites should be paying for the data they steal from users. We create the data, we create the value, they take it for nothing and exploit it to make billions and become some of the wealthiest businesses in the world.
The situation we have now is basically like a car manufacturer building a car but not paying the person who manufactures the screws.
The thing is, the people shouldn't be using commercial social networks, because when they do, they are the product. When they do, they lose control and ownership of their data. Their data gets used against them and against all of us.
None of this should be a surprise to anyone and I find it incredibly frustrating that it is. We've been telling you for twenty years.
Yesh, like isn't premium, awards and a shit ton of ads not enough profit?
On one hand, he did say "ask me anything". Reading the thread, I realize he didn't actually say he'd answer anything.
Also, I love how the dishonest fuck that spez is wrote "Some third party apps decided the cost per user a month was too much" after app developers like Apollo's and Sync's both independently posted breakdowns of why the pricing structure was untenable. And it's after he was caught lying about reddit's conversations with the Apollo dev.
Glad this debacle has me invested in the fediverse future, at least.
That's why were all here. One ship sinks, we get on another. Totally avoidable if some sense of humility and foresight was applied, but that's not really the corporate way now is it.
He said "ask me anything" but he also outed himself using canned answers (one of his comments began with "A:" before he edited it), which probably means he wasn't really doing an AMA in good faith
You should probably answer those Discord notifications lol
Nahhhhh if I answer them ill forget I got them :p
Bruh, how do you not get anxiety :D I have to clear those up instantly
The answer is living in constant fear of clearing my messages
Wait, nah, they got a point on that one. I'll leave some select messages unread to remind me to do something later. Also to respond because I have the brain if a squirrel.
This is the content I came here for!
This just further cements that it’s time for me to move on from Reddit
Spez is such an asshole.
and rightly so imo… why waste the time to make hyperlinks of every minor nuance… “increased the ban notes character limit” xD ha!
I was very glad to see the community speak their minds though.
So many volunteers and still not profitable with gold and advertisement. Imagine being this incompetent.
Ironically, nowadays Reddit does less, worse and slower.
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