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.
Because prioritizing growth rather than sustainability costs a shit ton of money, money which gets borrowed from investors, which has to get paid back in folds, and then the investors also want more and can control what you do, and all they want is more money, so they reinvest over and over and over, which just perpetuates debt and further and further delays profit.
In short: late-stage capitalist greed.