[–] RabidRaccoon ago
As for Reddit’s new backers, they seem inclined for now to follow Condé Nast’s example. “We ask that the company make enough money to break even, with plus or minus $5 or $10 million a year,” says Altman, the Reddit investor. “Monetization is not a big focus. The company has a lot of cash in the bank.”
Implying Reddit is now losing more than $10M per year. Seriously, what good are smug Silicon Valley types like Altman, Ohanian and Huffman if they can't make money out of millions of users?
[–] mscomies 0 points 8 points 8 points (+8|-0) ago (edited ago)
Wut? I think these guys are arguing that the problem with Reddit was not enough censorship + monetization.
[–] Scapevvoat 0 points 6 points 6 points (+6|-0) ago
These business types once again show that they are completely out of touch with what attracts the user base that they desire to sell off to advertisers in the first place. My only hope is that Voat can come up with a business model to support itself without the corrupting influence of advertisers, lest we end up going down the same road that reddit is going - ultimately leading to a sanitized and braindead "buzzfeed" or "facebook".