Reddit's cofounder said that at first the company felt like 'a homework assignment that got out of hand' rather than a business
www.businessinsider.com
Reddit's cofounder Steve Huffman said in its early days he filled up most of the site with content using different accounts until it got more users.

Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

  •  Ech   ( @ech@lemm.ee ) English
    11•10 months ago

    if your content meets requirements for monetization

    “Requirements” being key there. The vast majority of even power users won’t end up getting paid with the system as it stands. If anything, it’s just there for people to give them credit for making it “possible”.

    •  survivalmachine   ( @survivalmachine@beehaw.org ) 
      3•10 months ago

      Which requirements are difficult to meet? The highest hurdles I see is receiving 10 gold in a 12-month period and making sure your content isn’t porn/gore/drugs. I think reddit blows, but this doesn’t seem like difficult-to-obtain goals for somebody trying to make some extra scratch.

        •  survivalmachine   ( @survivalmachine@beehaw.org ) 
          4•10 months ago

          Yeah, and while the country thing sucks, it’s at least a quick “yes/no” answer before you even start trying. This isn’t a deceptive lure like roblox, where they entice millions of kids to try to monetize their content, but make it exceptionally hard to actually make a profit or to even cash out (and even if you meet their ridiculous requirements, there is a huge imbalance of exchange rates when converting to and from a real currency to robux).