Yeah, investors will have major problems with these businesses decisions.
You don’t just walk about from tens of millions in revenue because you have some vision about how things may one day be in the future. You build a bridge from what is to what can be and you make as much money as possible in the meantime. Spez is behaving like a child and not a CEO. He wants thing to be one way and he’s just digging his heels in when there is pushback. He isn’t working in the best interest of Reddit, he’s making this personal and it is costing Reddit.
The could have worked out an agreement with Apollo and RIF and been earning money while also improving their app. Instead they lost out of a huge amount of money without improvement in the app. The difference in quality between the current apps and Reddt’s app is so big people will just refuse to swap and then they’re lost as users.
Now they’re doubling down and still refusing to negotiate with the community to the point where they’re threatening mods and other shady tactics to end the protest. It’s starting to affect regular users, you see them complaining hard because they’re stuck in the middle of the battle between Reddit and the people that make it work.
I’m sure they’ll start seeing negative user growth before too long. It would be trivial to open a dialog and be good stewards of the Reddit community. Instead Spez is committed to having things exactly how he wants them. When the IPO happens it is certain that this story will be fresh in everybody’s mind. Who knows how Spez will waste the company’s IPO money if he’s already shown a habit of making bad decisions.
Yeah, investors will have major problems with these businesses decisions.
You don’t just walk about from tens of millions in revenue because you have some vision about how things may one day be in the future. You build a bridge from what is to what can be and you make as much money as possible in the meantime. Spez is behaving like a child and not a CEO. He wants thing to be one way and he’s just digging his heels in when there is pushback. He isn’t working in the best interest of Reddit, he’s making this personal and it is costing Reddit.
The could have worked out an agreement with Apollo and RIF and been earning money while also improving their app. Instead they lost out of a huge amount of money without improvement in the app. The difference in quality between the current apps and Reddt’s app is so big people will just refuse to swap and then they’re lost as users.
Now they’re doubling down and still refusing to negotiate with the community to the point where they’re threatening mods and other shady tactics to end the protest. It’s starting to affect regular users, you see them complaining hard because they’re stuck in the middle of the battle between Reddit and the people that make it work.
I’m sure they’ll start seeing negative user growth before too long. It would be trivial to open a dialog and be good stewards of the Reddit community. Instead Spez is committed to having things exactly how he wants them. When the IPO happens it is certain that this story will be fresh in everybody’s mind. Who knows how Spez will waste the company’s IPO money if he’s already shown a habit of making bad decisions.