just so this doesn’t overwhelm our front page too much, i think now’s a good time to start consolidating discussions. existing threads will be kept up, but unless a big update comes let’s try to keep what’s happening in this thread instead of across 10.

developments to this point:

The Verge is on it as usual, also–here’s their latest coverage (h/t @dirtmayor@beehaw.org):

other media coverage:

  • Luvs2Spuj@beehaw.orgEnglish
    53·
    1 year ago

    There was a response on the AMA where u/spez said “Reddit would always be profit driven and currently does not make a profit. Unlike TP apps”

    You can no longer see this on the Reddit app, it is obscured in someway. Perhaps because of the potential impact for the IPO?

    • pizzaboi@lemm.eeEnglish
      34·
      1 year ago

      He is essentially saying, “we are unable to make a profit, so our plan is to use someone else’s profit to make money.”

      What I think he’s going for is sympathy points, but he did not read that back lol

    • bouncing@partizle.comEnglish
      20·
      1 year ago

      I would not be surprised if a lawyer jumped in and said that revealing even profitability vs not is something they should do through official channels.

      • sydneybrokeit@beehaw.orgEnglish
        27·
        1 year ago

        He just admitted, just as they’re trying to IPO, that they’re still not profitable. If these third party apps that make up a fraction of their users – their most engaged, active users, by the way – are the difference between profit and loss, they need a better model.

        • BlackCoffee@beehaw.orgEnglish
          23·
          1 year ago

          If it is true than he literally shot himself in the foot.

          Just like you said if it is true that the “1-3%” of the users that use 3rd party apps (by spez his word) can actually provide a profit for the 3rd party apps and the 90+% that uses official reddit channels still cannot… then they have a very big problem.

          I wouldn’t even be surprised though. His whole demeanor reeks of jealousy and contempt.

          The fact that a 3rd party app was actually featured on the Apple event multiple times and name dropped multiple times as “the” way to use reddit, has to absolutely sting as hell.

          Edit; experiencing some lag ;)

    • setsneedtofeed@beehaw.orgEnglish
      20·
      1 year ago

      Hilarious I can still see it on Apollo. I did notice while refreshing on spez’s comments that on that particular comment his name changed from red (normal admin color) to black, and then a few minutes later red again. I don’t know what it means, but it smells.

      I also noticed the time posted got fuckity on that comment. I’m looking at comments sorted newest on top but the time of that comment is out of order