this post was submitted on 12 Jun 2023
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I think this decentralization and federation is what web3 is all about, without all the corporations calling everything to do with monkey pixel art that costs a million dollars "web3"

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replace them with something that doesn’t rely on centralization with lots of capital to stay afloat

That's what's silly about the whole thing, there's absolutely no conceivable reason that reddit shouldn't be profitable right now with the market saturation they have... unless the majority of people currently making money off of it have been greedy assholes up until now trying to get their piece of the easy money pie. 99% of the work is done by "unpaid" (by reddit) mods yet somehow they still have 2k people on the payroll, it's hard to imagine most of their current expenses are going to anything but dumb tech company money sinks that are going out of style fast lol