Ah it’s one of these things that they probably could be profitable, and certainly their almost billion in sales per year is healthy
It’s worth remembering that corps pay no taxes if they spend more than they earn. VCs will often be happy to cover that shortfall with the idea of a big sale later. So nobody pays taxes and then eventually they sell or IPO for big bucks and roll that into more investments. The economy keeps on pumping
You think Reddit has BEEN bad? Wait until theres shareholders expecting a ROI.
Honestly its probably not going to go well.
They might have been able to turn a profit, but apparently u/Spez (fucking dipshit) collects over 190million in CEO compensation.
Yeah, I saw that article too but it’s misleading. According to the S1 filed with the SEC, spez’s current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It’s not the reason reddit isn’t profitable.
Could you elaborate on that for someone who has no clue about stock market stuff?
That motherfucker for 800k for THAT performance last year? I’ve never seen a blow up like he oversaw…how the fuck does that get you a bonus?
it’s the old kamikaze wager, either it works or
