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Reddit: Return of the Junk Stock IPO

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Re: Reddit: Return of the Junk Stock IPO

#81

Post by mikequinlan »

mamonster wrote: post #55
causal wrote: post #33

Earlier quoted context omitted.

Was also shocked by those numbers. And supposedly each DAU even generates more revenue than Pinterest and Snap - what is Reddit doing to make operations that much more expensive?

Simple answer: 2000 employees for a social media website doing 800 mil in revenue is too much(remember that mods are also not being paid which should technically be a tailwind to profitability). IMO once this is out in the open there will be no way around 30% headcount cut over 2-3 years. The monetization has also been very bad historically(selling awards is really dumb), so there are definitely ways to pump revenue…

> 2000 employees

Reddit software developers are maintaining at least 5 different user interfaces:

1. Old Reddit (old.reddit.com) (no longer maintained, I guess)

2. New Reddit (new.reddit.com) (also no longer maintained?)

3. New New Reddit (aka Twitter Reddit, sh.reddit.com)

4. Mobile browser Reddit

5. Mobile app Reddit

It takes a lot of work to keep all of those user interfaces crappy, slow, and hard to use.

Re: Reddit: Return of the Junk Stock IPO

#82

Post by calciphus »

gizmo wrote: post #79
mingus88 wrote: post #70

Earlier quoted context omitted.

If you say so. He single-handedly destroyed one of the best brands of the modern online era (tweet, Twitter, the bird logo) only to replace it with a brand identity that was stale 20 years ago and is commonly associated with porn. The site’s traffic continues to plummet and his investment is worth billions less since he unleashed his acumen.

Musk has also made what I consider bizarre and impulsive decisions with SpaceX and Tesla. The gullwing doors of the model X almost bankrupted the company, for instance. Or take the blast pad incident during a recent starship launch. Experts warned him this would happen. Musk making unforced errors isn't new. His businesses do incredibly well regardless.

It's almost as though many of his companies succeed in spite of, not because of, his leadership. Get enough money and smart people on a problem and they can survive most leadership foot-gunnings.

He was very good at raising money when money was free. Unclear if all the other things about him add up to a net positive for his companies now.

Re: Reddit: Return of the Junk Stock IPO

#83

Post by quickslowdown »

gizmo wrote: post #68
quickslowdown wrote: post #64

Earlier quoted context omitted.

Looking to musk for intelligent, thought-through business decisions is definitely an interesting strategy.

I'm no fan of Musk but his business acumen is undeniable.

Musk is successful despite himself, not because of. When he doesn't have a whole team of people keeping him from making insane statements/promises/business moves, the image of a successful, shrewd businessperson really crumbles.

I'm not fooled by the illusion any longer, but I do understand it's hard to separate the things he's taken credit from other people for, vs the things he himself championed/implemented.

Re: Reddit: Return of the Junk Stock IPO

#85

Post by Yugomorph »

boston_clone wrote: post #62
bilchly wrote: post #56

Earlier quoted context omitted.

I'm actually 72 years old and this is my retirement hobby. It keeps my mind busy and I find it amusing.

Maybe try crosswords instead, or pick up an instrument. Less sophomoric, and likely more mentally engaging than trolling teenagers online.

I can definitely see the appeal in making people fume out of their ears over some completely irrelevant thing you said on the internet that they can completely ignore but still choose not to.

People throwing tantrums in public and making clowns of themselves has always been funny.

Re: Reddit: Return of the Junk Stock IPO

#86

Post by nh23423fefe »

appplication wrote: post #66
ActionHank wrote: post #32

Earlier quoted context omitted.

Best place to cut costs would be to retrench their whole video player team. At this point I am not even sure how it is possible to make a product that so routinely fails to function for so many people.

The video player is what drove me to use Apollo instead, and then killing Apollo was enough to drive me away entirely. It’s a great idea but management incompetence is huge. How many other major websites regularly piss of their users so much?

they killed RiF. i stopped going there entirely on mobile which was 90% of my visits. i never look at reddit when im bored now.

on desktop, if RES and old.reddit stop working. ill never go back

Re: Reddit: Return of the Junk Stock IPO

#88

Post by ryandrake »

Balgair wrote: post #77
bglazer wrote: post #73

Earlier quoted context omitted.

EDIT: I shouldn't have replied to this

The newbie poster here openly admits to liking to troll people via ragebait. And is also somehow 72 years young. That post is itself ragebait. They are just trolling.

I was going to remark about how top tier a troll his post was. Trolling about your own ragebait-trolling on a site where there would surely be someone upset enough about it to feed the trolling. Really good one.

Re: Reddit: Return of the Junk Stock IPO

#89

Post by timeon »

bigyikes wrote: post #41
causal wrote: post #33

Earlier quoted context omitted.

Was also shocked by those numbers. And supposedly each DAU even generates more revenue than Pinterest and Snap - what is Reddit doing to make operations that much more expensive?

They’ve put a lot of research into making their mobile website unusable. These kinds of innovations aren’t cheap.

Desktop too. It is extremely slow while old.reddit.com is pretty fast.

Re: Reddit: Return of the Junk Stock IPO

#90

Post by timeon »

mikequinlan wrote: post #81
mamonster wrote: post #55

Earlier quoted context omitted.

Simple answer: 2000 employees for a social media website doing 800 mil in revenue is too much(remember that mods are also not being paid which should technically be a tailwind to profitability). IMO once this is out in the open there will be no way around 30% headcount cut over 2-3 years. The monetization has also been very bad historically(selling awards is really dumb), so there are definitely ways to pump revenue…

> 2000 employees Reddit software developers are maintaining at least 5 different user interfaces: 1. Old Reddit (old.reddit.com) (no longer maintained, I guess) 2. New Reddit (new.reddit.com) (also no longer maintained?) 3. New New Reddit (aka Twitter Reddit, sh.reddit.com) 4. Mobile browser Reddit 5. Mobile app Reddit It takes a lot of work to keep all of those user interfaces crappy, slow, and hard to use.

> (no longer maintained, I guess)

Yet only one that properly works (in context of it's design).

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