So this was 10 years ago, lol. How the tables have turned
Link: https://www.reddit.com/r/todayilearned/comments/1onx27/comment/cctw6ea
They used to display a bar in the top right of the screen that was “percentage of daily server costs that are covered by Reddit Gold purchases today” and I remember them always hitting the goal. What other costs (besides staff) were they losing so much money on?
It’s not enough to cover all expenses and maybe a bit extra for growth forever. You must extract all possible value and give it to the shareholders. If the business doesn’t suffer over time then you didn’t extract hard enough and are depriving the poor shareholders. Concentrate the wealth. Suck it dry. Go until nothing is left and move on to the next one. Numbers must always go up.
I don’t think they ever expected to get IPO status. That’s the only reason why they’re moving forward with this new API policy.
The cycle of tech life and death continues… How innocent we were then.
Guessing they realized how hard it is to keep tracks of bots that fake clicks on ads, can’t think of another reason they didn’t do it back then.
Crazy to think that reddit gold has been around for ten years
