Congratulations, you've discovered the reality of most internet companies. YouTube also makes no money. Twitch is a disaster. Elon showed that Twitter is trash and even before then it was known they solely survived off government grants.
The reality is that consolidated internet forums/sites are not viable. Centralisation is overwhelmingly a massive mistake. Where centralisation is possible in the physical world (though still not a good idea in my opinion), centralisation on the internet cannot be viably monetised to accommodate users that (rightfully) refuse to pay for these services.
But these companies somehow stay afloat? How? Most of the time, through investors with vested interests, or government grants. Why do these companies get grants? Who knows, but they get them. Almost like it's a scam, and they're able to scam taxpayer money.
Reddit is failing to pull off that scam, and so they're hoping that going public will bring in the money instead. But it won't. They'll get an immediate inflow, and then it'll continue to fail again. Like it always does.
Congratulations, you've discovered the reality of most internet companies. YouTube also makes no money. Twitch is a disaster. Elon showed that Twitter is trash and even before then it was known they solely survived off government grants.
The reality is that consolidated internet forums/sites are not viable. Centralisation is overwhelmingly a massive mistake. Where centralisation is possible in the physical world (though still not a good idea in my opinion), centralisation on the internet cannot be viably monetised to accommodate users that (rightfully) refuse to pay for these services.
But these companies somehow stay afloat? How? Most of the time, through investors with vested interests, or government grants. Why do these companies get grants? Who knows, but they get them. Almost like it's a scam, and they're able to scam taxpayer money.
Reddit is failing to pull off that scam, and so they're hoping that going public will bring in the money instead. But it won't. They'll get an immediate inflow, and then it'll continue to fail again. Like it always does.