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A comment on I am Steve Huffman, the new CEO of Reddit. AMA. (2015). Parent comment

Re:I am Steve Huffman, the new CEO of Reddit. AMA. (2015) by midoridensha on Wednesday June 14, 2023 @10:07PM (#36335549)
They're not profitable because they choose to not be profitable, because they have too many employees and are trying to be the next TikTok.

If they operated like archive.org, they could sustain themselves. They don't want to do that, because it doesn't result in big returns for investors.

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Re:I am Steve Huffman, the new CEO of Reddit. AMA. (2015) by stOneskull on Wednesday June 14, 2023 @10:40PM (#36335801)
old reddit was fine

they wasted, and continue to waste, bunches of money, for nothing

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Re:I am Steve Huffman, the new CEO of Reddit. AMA. (2015) by midoridensha on Thursday June 15, 2023 @12:04AM (#36336253)
It was "fine" in your opinion, for doing the kinds of things you liked to do with it. But that wasn't leading to TikTok-level profits.

They may be wasting money, or maybe not. If they chase away all the people like you, and end up with a userbase of vapid morons who just watch idiotic TikTok-style videos on it, and this makes the company billions in profit, then that money wouldn't be "wasted".

I mean, it sucks (IMO) if running a discussion board service for people to have intelligent conversations about various niche topics is financially undesirable compared to running a social media site for people to share and make moronic comments about moronic 1-minute videos, but that seems to be just how humans are.

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