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  • ghostrider2112@lemmy.worldEnglish
    1·
    2 days ago

    Yeah, that’s because they only ever invested in what they wanted, not what served their users. Which always baffles me, when your only product is your users and their generated content, you would think the best business would be to give them what they wanted! Guess that is why I never bothered with an MBA.

    • brucethemoose@lemmy.world
      2·
      2 days ago

      No, if the end goal is quick money the strategy is perfect.

      • Amass users in niche interests, don’t mess things up.
      • Slowly “mainstream” content, switch focus to engagement and mass appeal.
      • Now you have a huge user base. Time to squeeze them.
      • Suck up to regulators and investors to keep the ball rolling.
      • Squeeze, squeeze, keep squeezing as users slip through your fingers and the line goes up.
      • And just before everything explodes, sell Reddit to Big Tech, who absorb it like The Thing. They both win. Alternatively, sell to public markets and leave them holding the bag of shit, and walk away with cash.

      The best part? Short term investors love this shit. They thrive on volatility. A sustainable business? That’s boring and less profitable.

      The site is turning to shit? Mods angry? Who cares. That’s the problem for whoever is holding the bag next.