First all the bs with Twitter and Elon, then Reddit having an exodus to Lemmy (not complaining lol), then Twitch. Are we like, in an alternate self healing dimension or something?
First all the bs with Twitter and Elon, then Reddit having an exodus to Lemmy (not complaining lol), then Twitch. Are we like, in an alternate self healing dimension or something?
I think this is “normal” and the previous status was a glitch due to the low interest rates. Investors threw money at tech companies and didn’t care whether they made any money. Not any more. It’s now “make money or go bust”. I am not sayiny these new trends will make them money, but IMHO it’s what’s driving them
That is a great point. I never considered this to be an effect of interest rates increasing. But I think Reddit was already profitable.
But it recently went public and I think the board is like, “Make more money now!”
They really just want to get everyone on the Reddit app so they can collect user data to sell and to show advertisements.
Reddit hasn’t gone public yet (it’s planned for this year) and very likely isn’t profitable — we don’t know for sure because it hasn’t published its financials.