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A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

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founded 2 years ago

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Seriously, what's up with big sites literally dying as we speak? (lemmy.ml)

submitted 1 year ago by [email protected] to c/[email protected]

580 comments fedilink hide all child comments

First all the bs with Twitter and Elon, then Reddit having an exodus to Lemmy (not complaining lol), then Twitch. Are we like, in an alternate self healing dimension or something?

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[–] [email protected] 5 points 1 year ago (1 children)

There isn't much public information because all those companies are private. But, various journalists have looked into things and declared it isn't profitable, for example:

That has left Reddit, known as a bastion of free speech, walking a delicate tightrope between its outspoken audience of 330mn monthly active users and new advertisers that can propel it into profitability.

https://www.ft.com/content/c4c01d86-85f5-49c8-9966-cbf935d834a2

[–] [email protected] 2 points 1 year ago (1 children)

Awesome. Thanks for the follow up. Crazy how hard it is to find. I’m sure their income is enough to pay them decent wages though. Not the moderators though, screw those people

[–] [email protected] 2 points 1 year ago

The problem is that from day 1, Reddit was a Y-Combinator project, meaning it was VC backed, and the VCs want a big money-making exit. It looks like social media in general, and link aggregator website in particular are not great money-making ventures. A private company might just shrug and accept a small but steady profit. But, VCs want a big splashy money-making event, and they're willing to risk killing the company to achieve it.