this post was submitted on 18 Jan 2024
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They are about 2 years too late.
The rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually need to generate profit and not just show user growth to be attractive to investors.
The IPO will not go as spez dreamed for so long.
Yep, but also, I think spez is done. He's just cashing out and fuck you etc.. etc..
He'll catch enough to successfully eject and thats that for him. Reddit will die. But we'll have survived, and the open web will continue.
Yes, he will cash out but I feel it will only be a fraction of what he hoped to get.
He will be comfortably rich but to someone who expected to be obscenely rich, he will see it as a failure.
Serves him right for pissing on Aaron Swartz's grave. In fact, it's hardly justice.
To quote that great late 20th century philosopher, Terry Pratchett:
There is no justice in the world, there is Just Us. (and many of us are not nice people.)