Beyond spez (and the fact that he is a greedy little pig boy), I’m curious about the corporate dynamics that prevent a company like Reddit from being profitable. From an outside perspective, they make hundreds of millions per year via advertising, their product is a relatively simple (compared to industries that need a lot of capital to build their product), and their content is created and moderated for free by users. Could any offer some insights or educated guesses? Additionally, I’m curious how this all ties into the larger culture of Silicon Valley tech companies in the 2010s.
They’re absolutely overpaying. Don’t forget that the last revolt was triggered in part by them demanding that all their devs move to San Francisco (where they have to pay San Francisco sized salaries).
They had remote working teams in place PRIOR to the pandemic, and they scrapped it because all the stupid executives want their taint fondled while they look over their cubicle farm of peons like all the other tech execs.