deong

Stickers and Reddit gold are, by the wildest and most nonsensically optimistic estimates imaginable, not going to be even in the same state as the amount of revenue they’re looking for.

Venture Capital isn’t compatible with asking people to pay what something is worth. You might find a fair price that keeps enough users to make the business sustainable, but that’s what they derisively refer to as a “lifestyle business”. VCs are looking for 100x profits in a couple of years, and that necessitates slimy revenue models. Nothing else works.

I mean, there was never going to be an ending here where they came out and said, “You know, we’ve heard you, and more importantly, our VC investors who’ve given us 1.3 Billion dollars have heard you, and they’ve told us that your community matters more than their exit.”