this post was submitted on 04 Sep 2023
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Doing what is morally correct does not make you money.
Let's not overdo it, it's not like Reddit was a pinnacle of moral virtue before the Mod changes.
They were doing mostly okay before with premium and donations. It's just that they want even more money.
The weird thing is that if spez hadn't spent tens of millions of dollars on things that reddit kept telling him they didn't want - reddit crypto, reddit NFTs, etc - they likely would've been profitable way before now.
Yeah, they could've been profitable a long time ago if they grew the staff slowly and kept their head down
But they wouldn't be Facebook level profitable. Their investors don't care much about them being profitable, they want 100x or bust