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.
So when the greedy little pigboy said “we’ll continue to be profit-driven until profits arrive” he was being completely and purposefully deceitful? Since it’s not that profits “haven’t arrived” it’s that they just don’t want to say so?
As a private company they can do whatever they want. But the pigboy is preparing for IPO, so this narrative is to ensure that people will actually buy their shares. Once they start trading, they MUST start produce profit. But not before that.