Reddit kind of anticipates this critique in its investor docs, and argues that it didn’t really start operating as a serious business until 2018 when it finally started “meaningful monetization efforts” — that is, trying to make money for real.
But that’s still six years ago. What has Reddit been doing since then?
One big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries…
…What am I missing? I asked Reddit comms for comment but they declined, citing the company’s quiet period before the IPO.
It’s like how the Zuck spends billions into his metaverse plan and all he got was that shitty looking game. That’s what he gets for entering the gaming industry and applying Silicon Valley bs finances to it. Sure game devs are on average underpaid, but paying them FAANG salaries is just not realistic.