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this post was submitted on 08 Jun 2023
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Technology
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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?
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.
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.
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 ;)
deleted by /u/spez