maskapony

From The Guardian’s article on this:

The Red Bull team principal, Christian Horner, said at the British Grand Prix that the team were still committed to Pérez. “He’s the type of guy that just needs an arm around his shoulder and you work with him,” he said. Tellingly, in 2020, Horner said of Albon, then also struggling at Red Bull: “We need to be patient with him and we’ll put an arm around his shoulder and make sure he feels he’s got the support.” Albon was replaced at the end of the season by Pérez.

Reddit makes $350m a year in advertising revenue, it is in theory a fantastically successful business that could make plenty of profit for its shareholders.

The problem is solely down to them raising more and more capital the latest at a $10B valuation. Because of this they need to increase the revenue even further to try and justify the inflated valuation and that is what has led to the latest situation.