this post was submitted on 13 Jun 2023
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Money. Not only can they better monetize it, it makes their numbers look better for the potential IPO.
The IPO is everything, I'm sure. So much of any valuation is entirely speculative, but the higher that speculation is the more money the stakeholders will be able to get out when they sell.
Presumably spez is a major stakeholder, and if so, a short-term inflation of particular usage metrics would directly mean more dollars in his pocket when they sell. It doesn't matter if it then all falls over in a heap, if the monetisation isn't actually viable; he (and others) have already cashed out, and the folks who bought into the valuation are left holding the bag.
Yeah. Twitter was already a financial disaster before the Musk buyout. There's a reason the board pushed the sale on him when he tried to back out. We're in a tech-bust era where it's not enough to dangle the new shiny in front of investors, profit be damned. Who's to say that reddit will do any better?