Reddit kind of anticipates this critique in its investor docs, and argues that it didn’t really start operating as a serious business until 2018 when it finally started “meaningful monetization efforts” — that is, trying to make money for real.

But that’s still six years ago. What has Reddit been doing since then?

One big, obvious answer: It has been hiring a lot of engineers and spending a lot of money on their salaries…

…What am I missing? I asked Reddit comms for comment but they declined, citing the company’s quiet period before the IPO.

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    • spider@lemmy.nzOP
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      8 months ago

      Most of that includes options that he would have to wait to cash out, which is probably what inspired him to blow things up over the summer.