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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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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]

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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] 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.