this post was submitted on 13 Jun 2023
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I suspect that the fact that he had to call out that they are not seeing any significant revenue impact probably means that they actually are seeing an impact.
Yeah, there's no way they aren't seeing an impact of our actions between people canceling Premium and reduced ad impressions because of the private subs.
He's projecting confidence because he wants us to think we're not having any effect on them and come back.
The memo as a whole is encouraging employees to keep working and not lose faith or get scared; that part is telling them that they're not going to get laid off due to declining revenues.
Of course it's all BS, businesses can't predict the future, but I'd agree that advertisers and subscribers didn't suddenly cancel en masse. It'll take more action to see effects there.
And they already laid off some employees recently, it could probably re happen soon.
Those are some interesting qualifiers. It's only been 2 days so maybe that's why it's not "significant" yet.
I don't think it's a lie, but it highlights that revenue is all they're thinking about.
Hasn't he also stated Reddit is not generating a profit? Which has got to be another obvious lie, seeing as how long they've operated and how massive their site is.
Nah that is most likely very true. If they go public that would also be quite obvious as they have to release all their financials. A lot of giant organizations are not/were not making money for a long time, including Snapchat, Twitter, Uber, etc.
There is a huge cost to running these things.