this post was submitted on 30 Jun 2023
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Asklemmy
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When a company goes public it becomes something that needs to “appeal to the public”. It’s like when a movie wants to appeal to everyone. By doing so it ends up appealing to no one in particular and it’s a successful meh movie.
Going public then you have a committee of board members making decisions. And who’s going to be on a board? Bunch of rich people who only care about making it the best company for the public. Effectively ditching everything that makes a company risky or unique.
Going public can also be good cos you’ll have public money to invest in new and better tech or systems or acquisitions. So the future they have in mind seem to not include a lot of us. It’s a direction that’ll strip anything unique about reddit and become a successful meh platform
It's a more direct path: going public means they want money. Money, profit, and as much as they can get. That means ads, subscriptions, ads, tracking, ads, data gathering, ads, and the best: get back to work you unpaid ~~peasants~~ mods.