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Remember when Spez said it was "It's time we grow up and behave like an adult company"? Apparently, that means paying himself $193 million and single-handedly tanking Reddit's profitability right b... (www.npr.org)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

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[+] Lauchs@lemmy.world -10 points 10 months ago

Probably very unpopular thoughts but...

A) How many of us wouldn't angle for an almost 200 million dollar payout? Seriously? All of us are too good for that?

B) Social media like reddit is basically free for users and costs way more than most of us could afford to run. We probably need to figure out some middle ground where people expect to pay a few pennies for something they use for hours a day. Unfortunately, advertising etc has conditioned/conned people into thinking everything should be "free" and with ads.

[-] Kethal@lemmy.world 1 points 10 months ago* (last edited 10 months ago)

It's not free. Moderators spend their time keeping things sensible and users spend their time creating content, by posting, commenting and voting. Millions of people contribute tiny amounts, giving the community great value. They're the reason the site has any value at all. In comparison, the operating costs, and whatever work the company execs perform, are small compared to the not-at-all free work people in aggregate put into the community.

[-] Lauchs@lemmy.world 1 points 10 months ago

These are sites premised on free labour but the end user pays nothing to enjoy the site.

As much value is created by those volunteers, the operating/dev costs are very real and can't just be hand waved away.

[-] Kethal@lemmy.world 1 points 10 months ago* (last edited 10 months ago)

And you're claiming that people can't expect to use it for free, because they need to pay those costs, which is nonsense. If they have enough to pay a CEO $300k in cash each year in addition to stock options, they are making plenty to cover their operating costs. Thus there's no reason users, who are already brining value to the platform, should pay more in addition to the value they bring. Asking for people to contribute for free and then pay to access what they've built is a crazy business strategy that's bound to fail.

[-] Lauchs@lemmy.world 1 points 10 months ago

I think you're misunderstanding my point.

You can still use reddit for free, that won't change. That is because to reddit you are cattle, the product, what is being sold.

And as long as you are a product, reddit is going to extract as much value from you as they can. It's why their valuation is in the billions, you are lucrative cattle. And qs someone who has wrangled that cattle, spez is taking his cut.

[-] Lauchs@lemmy.world 1 points 10 months ago

This might help you understand the issue with reddit, which apparently has yet to ever cover its operating costs within a year:

https://www.forbes.com/sites/eriksherman/2024/02/26/reddits-ipo-filing-shows-lots-of-losses-after-nearly-20-years/

Kind of eye opening, even if you vaguely understood the situation beforehand.

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this post was submitted on 23 Feb 2024

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