> The business model where a company owns a public community and monetizes through ads and search traffic seems to have just been a failed model.
A failure in what sense? That they can't pay the bills or that they can't see the VC-desired 10X ROI? Because my impression (as a layperson) is that the Reddit of yore could have stayed afloat from ad revenue + user donations, but it wasn't turning a huge profit. Anyone else remember the sidebar with the quota for Reddit gold for server costs? I don't remember it being short that often...
A failure in what sense? That they can't pay the bills or that they can't see the VC-desired 10X ROI? Because my impression (as a layperson) is that the Reddit of yore could have stayed afloat from ad revenue + user donations, but it wasn't turning a huge profit. Anyone else remember the sidebar with the quota for Reddit gold for server costs? I don't remember it being short that often...