Beyond spez (and the fact that he is a greedy little pig boy), I’m curious about the corporate dynamics that prevent a company like Reddit from being profitable. From an outside perspective, they make hundreds of millions per year via advertising, their product is a relatively simple (compared to industries that need a lot of capital to build their product), and their content is created and moderated for free by users. Could any offer some insights or educated guesses? Additionally, I’m curious how this all ties into the larger culture of Silicon Valley tech companies in the 2010s.
Liars like Steve are easy to catch. We know he’s selfish and unempathic. His behaviors and accusations are clear tells. Remember how he accused the dev for Apollo of trying to extort Reddit when that’s what Steve was doing? This recent Reddit move of demanding insane prices for the API and upsetting the community is really good info. He needs money (the price increase), wants more control (API got priced out), and is willing to piss everyone off ultimately sabotaging the company. While we don’t know the specifics, we know he’s desperate for money, control, and a charade while he’s running out of time. Something on his end is blowing up in his face, he’s trying to save himself, and he could be saved if someone shows up with a ton of money. Otherwise, he’s going dress the Reddit turd up as a sausage, and fake it long enough to pass it onto someone else. I wouldn’t want to be involved with him in anyway at the moment. If I worked at Reddit, I’d be sending my resume out to other employers.