I’m devastated! Holy fuck it’s the end of such a great resource. Is there any other plex share communities active at all?

  • RagingNerdoholic@lemmy.ca
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    1 year ago

    I’m still trying to figure out how reddit expects to “become profitable” while simultaneously destroying everything that made it valuable.

    • Seasoned_Greetings@lemmy.world
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      1 year ago

      “Become profitable” is just their stated goal.

      I think that their actual goal is to look profitable for the upcoming ipo so that the CEOs can cash a fat check and leave. They likely don’t care about what happens after that.

      So the “become profitable while simultaneously destroying everything that made it valuable” platitude is more like “they’re cutting down the tree for the wood without thinking about the squirrels”

      • Iamdanno@lemmy.world
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        1 year ago

        It’s more like “cutting down the forest to harvest the wood once” rather than “manage the harvesting so that it can be generating wood for generations”. It’s typical capitalism.

      • Neato@kbin.social
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        1 year ago

        But are investors this stupid? Who invests in an IPO without doing research on the company’s activities? If they check the internet and it’s countless articles about how their users and moderators are pissed and leaving, why would anyone think it’s going to be profitable?

        • prole@sh.itjust.works
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          1 year ago

          The sad thing is that reddit will probably do alright for at least a few years. It may not be an awful investment in the short term.

          That said, it’ll slowly burn out and investors will be left holding the bag. But that’s alright, because Steve Huffman will have gotten his payday and retired to the decommissioned missile silo that he converted to luxury apartments in case of doomsday. All he had to do was fundamentally change the way people use the internet by selling the company that his two smart buddies created.

    • z3n0x@feddit.de
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      1 year ago

      I mean, Facebook is also “profitable” but it’s still an utter shitehole content- and community-wise