this post was submitted on 09 Jun 2023
193 points (100.0% liked)
General Programming Discussion
185 readers
1 users here now
A general programming discussion community.
Rules:
- Be civil.
- Please start discussions that spark conversation
Other communities
Systems
Functional Programming
Also related
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
If they're losing so much money then why do they have 2000 employees?
Yeah weird where are they getting money?
Outside investors -- people who gave money in exchange for ownership of the company and its IP. They're received about 1.3 billion dollars in five or six rounds of funding from external investors. Reddit's motivation to IPO is to pay off those investors and restructure ownership of the company.
Oh, so reddit isn't really a capitalist thing where it's competition making it better? It's more like it just found the right people to beg from, but they want paid back?
Yes, that's how a lot of tech companies work in late-stage capitalism. It's more about stock prices than "begging" though.
Capitalism