Wait. Why is Reddit losing so much money?
Wait. Why is Reddit losing so much money?
Why is Reddit losing money? Ahead of its IPO, Reddit's spending on research and development amounted to an eye-popping 55% of its revenue.
Reddit kind of anticipates this critique in its investor docs, and argues that it didn't really start operating as a serious business until 2018 when it finally started "meaningful monetization efforts" — that is, trying to make money for real.
But that's still six years ago. What has Reddit been doing since then?
One big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries...
...What am I missing? I asked Reddit comms for comment but they declined, citing the company's quiet period before the IPO.
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The purpose of a system is what it does.
"Purpose" is the wrong category here.
Ah yes, a theorem that is so incredibly self-referential, that you could literally justify anything with it.
That's "it is what it is" for snobs.
Do you think I was justifying the way things are?
Interesting.