Currently sitting on the toilet and browsing reddit trough Apollo one last time ๐
this post was submitted on 30 Jun 2023
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Allegedly, yes. Where did the millions of dollars of revenue go, from all the ads and sponsors (which completely infest their app)?
Reddit execs decided they needed thousands (?!) of employees, despite mods running the subreddits for free. They could never make an app as fully featured as those with literally one employee. And it took years for them to deliver promised features and mod tools (many are very recent or still unavailable).
Lemmy and Mastodon, and all their apps, are running thanks mostly to a few dozen awesome people and donations.
Where did Reddit's millions of dollars disappear to again? And how is that not damning proof of their current execs incompetence?
(Note: I direct this /rant in Reddit's general direction.)
It's easy to make $300,000,000 in funding into a "nonprofitable" company.
You just pay the people running it more than you have. Then usually claim loses on your taxes.