[…] a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.
[…] a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.
Reddit waited out the near-zero percent interest that persisted for over a decade and are now finally pulling the trigger on the IPO with interest rates sky high and investors skittish. The punchline is that the Fed is about to lower rates over the next year, which will make speculative investments more attractive again. They delayed all this time and destroyed the site with all their for-profit changes only to go forward on the IPO at the worst possible time.
So, Reddit’s standard level of competence.