Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API
Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API
The more I read stories about Reddit cutting off third-party clients, Twitter turning hostile and YouTube trying to kick out people who run an adblocker, the more I start to think these media platforms should be run by non-profit entities. Fund it with donations, open source all the technical components.
The internet should be a utility so I kinda like where you’re going here
reddit did both of those originally
but when they started taking private VC money they had to start making returns on that investment which spiraled into the current situation
I wonder what got them there. Maybe they planned to cash out at some point and needed funds to grow faster. Or maybe they weren’t making enough money to keep Reddit running, and felt the need to bring on board external investors. In the second case, it’s hard to say what they could have done differently. In theory someone could have picked up Reddit’s source code if it went bankrupt and launched a new site. Several Reddit competitors have appeared over the years, like Voat. But they never really took off.
I’m curious to see how federation changes the game. It doesn’t really matter all that much where your instance is, so if one instance has to shut down due to operating expenses it can’t recoup, people can still move elsewhere.