samick1
I’m undefined? 😟
Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.
Semantics I guess. Di-worse-ification isn’t always the answer. They had a large product lineup, which was probably more expensive for them than it needed to be. They went under because they failed to fortify their balance sheet… rates went up and their debt crushed them.
Capitalism works fine just turning a profit while plenty of companies die chasing growth. It’s just part of it.
Twitter isn’t like reddit in that hashtags don’t have moderators. They outsourced moderating to the users, and now Musk has decided to remove it entirely.
I don’t get it.
I wouldn’t be so sure. I believe great managers could take it over and rescue it today, but they don’t have great managers, the place is run by idiots. It might survive in the manner Digg survived.
They just made it a lot harder to moderate by sparking an angry powder keg like they did, let alone killing all the mod tooling. That was better than what they’ve managed to produce in almost 20 years. They’ve also lost many of the moderators who weren’t doing it for the money (at least not reddit’s money). They can always hire new moderators, but that’s yet another expense on the earnings statement.
If they can get all the spam and hate posts under control it’s going to be a repost farm and OP will not surely deliver anymore.
From where I’m standing it appears they’ve been given an ultimatum by VC investors who are hellbent on selling whether they lose their asses at the bottom or not.
It’s not how they managed success, it’s that they ran out of it. Making a successful niche kitchen appliance is not a business, it’s one of many things that a successful niche kitchen appliance business does.
Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)
Several companies have called for this, and they all have an ulterior agenda. OpenAI just wants street cred and to have their competitors regulated. The rest simply don’t have a product and want everyone to slow down while they catch up.
Regardless, they all know on some level the government can’t stop AI just like they can’t stop piracy or cryptocurrency.
This is a good thermometer reading. I’m pretty sure many communities are prepared to extend this indefinitely if current plans aren’t reverted. I do believe him when he says
We absolutely must ship what we said we would.
I don’t know who the angry VCs are who get to pull his strings but if this gets their attention - it may or it may not - reddit might budge on things a bit.
At the end of the day the company is hopeless to make a profit with him at the helm. This memo sounds slightly nervous and lacks confidence. He has no clue what he’s doing.