[Reuters BreakingViews] Investors will say “OK Boomer” to aging Reddit

[...] 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.

https://www.reuters.com/breakingviews/investors-will-say-ok-boomer-aging-reddit-2024-02-07/

why does every web page need to be a fortune 500 mega-corporation?
They don't. But the dot-com frenzy where people threw money at anything tech-related is looking over, and investment firms aren't going to give lots of money to a barely-profitable business with a long history of bad decisions. Oh, they'll buy some stock but it's not going to be the massive frenzy Huffman desperately wants. He's going to take whatever he gets and work on his doomsday bunker, and reddit with continue to contribute to the enshittification of both the internet, and society in general.
Yep. I understand the desire to make enough money to retire. But I don’t endorse turning a public service into a predatory wasteland in a pathetic attempt to retire young.
He wants the money for his doomsday bunker.
The super rich are preparing for the end of the world

“You just need so many things to actually ride out the apocalypse,” says former Facebook product manager Antonio García Martínez.

CNBC