Reddit is experiencing the VC dilemma.... Your startup is allowed to have core features and limited growth, and the end user experience is generally better that way in the long term...
VCs require infinite growth and that's unsustainable, so once the users run out.. they look to find cash any way they can like the privatisation of the APIs.
Patreon had the same problem. It had one job, then it suddenly started posting about microloans.
@shlee The number of social media properties which have wholly benefited from VC over the long term appears to be rapidly reaching zero. Seriously, can we name a single one?
Venture Capital is fundamentally detrimental to the flourishing of healthy communities.
@Jonathanglick What I'm trying to say is that originally reddit was a good company but they were later acquired by a bigger company with different priorities.
So the original guys who made it great are gone, and we're left with assholes who want to maximize value.
@shlee I don't begrudge any cool tech thing from making money. Everyone's gotta make their sandwich right?
But I don't understand the "must keep making MORE money". Like why not "we have a stable revenue stream and our product is stable and constantly improves don't rock the boat"? Like why is revenue growth always THE performance metric?
@tezoatlipoca@shlee Exactly. Like if it was a physical store, management and investors would understand that there are natural limits to how many people will visit it, and how much money they can extract from the people who visit before you drive them away. You might have the Coolest Store In Town, but you're still limited by the population in the town who are interested in your stuff, and how much money they have left after paying the essentials.
Somehow, when you put it online, investors think infinite growth is possible...
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