They spent $1 Billion USD on the redesign. Such a waste
this post was submitted on 11 Jun 2023
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Imagine spending 1B just to look like the Facebook and Twitter βhappy little accidentβ
Wait seriously?
In the words of Dolly Parton:
It's expensive to look this cheap
Except Dolly is a saint, and not a greedy pig boy.
Wait, really? 1 billion dollars on that god aweful design? π
They could have stayed with Old Reddit
They just needed 20 million more
Have some goddamn faith Arthur.
Has anyone seen a reasonable breakdown of how much Reddit costs to run? Or how much lemmy collectively might cost?
revenue is not the same as profits.
profit = revenue - operating costs
Yeah but greed is greed so
Greed > Community engagement = π
I donβt want to defend them, but what costs do they have?
I would assume the majority comes from hosting? Then again I know nothing about how reddit operates.
developers are quite expensive too.even though they don't have many developers, it can still be a huge spending.
Reddit as a whole has somewhere around 2k employers (minus 90 after the layoffs)
That's a shockingly high number considering how little user facing development there has been
2k employees at 100k/year for everything would be 200M/year just in compensation. That, plus hosting and all the server costs could put them close to this ad revenue if not slightly over. However, this ad revenue isn't including things like reddit gold and gifts, I'm curious to see how that factors in.
100k a year??? On average? Never.
I just meant average cost per employee. That includes their salary but also health insurance, benefits, and payroll taxes. Definitely not everyone is getting 100k salary, but I think that's a pretty conservative estimate for total employee cost at a tech company of their size.
Okay...i have no clue how much an employee in america would cost. My comment was more an immediate shocked reaction of disbelief than actually stating that you were wrong lol
When they talk about being profitable what they mean is that the CEO needs to be paid some stupid wage like 10.000.000 a month, then being able to cover employees salaries and then costs of hosting and so on, and then, still being able to accumulate at last the double of the money per month so that they can see "growth". Basically it all comes down allowing a parasite to live for free off the backs of the working class. If CEO or shareholders would earna normal wage, I bet your ass Reddit would be profitable as hell if what you care about is building an awesome tool.
Hosting all the photos and videos. Paying for that CPU/GPU power and the electricity isn't cheap.
Reddit in its early days was based around free speech absolutism, and it had subs like /r/CreepShots, /r/WatchPeopleDie, /r/CoonTown and so on. But the current CEO being once the moderator of THAT sub in question.... that I didn't know!
Alright I'm going to go out on a limb and say that /r/WatchPeopleDie shouldn't be lumped in with that other human trash.
Every month or so I would get morbidly curious and scroll that sub for ten or fifteen minutes. Firstly, the comments and posts never seemed... I don't know I have the right word... sociopathic? gleeful? cruel?
The tone of the whole sub was much more somber. I always came away from that sub with a stark reminder that we are so so fragile, and our future can get snuffed out by the universe -- sheer random chance -- at any moment.
To me it was a reminder to live more in the present. Don't take tomorrow for granted, and I saw a lot of the sort of thing in the comments.
A lot of the videos were just random shit, like pedestrians getting hit stuck by a rogue tire flung from a car crash 500 feet away. Just totally senseless and sad... but in a way that helps put what's important in perspective.
I only went to that sub a couple of times. All I've learned is to stay away from forklifts and ferris wheels.
i mean aren't most social media platforms(or just tech services in general) unprofitable? like wasn't twitter losing millions of dollars even though it was really popular?
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