Seriously, what's up with big sites literally dying as we speak?

notExactlyI20@lemmy.ml to Technology@beehaw.org – 21 points –

First all the bs with Twitter and Elon, then Reddit having an exodus to Lemmy (not complaining lol), then Twitch. Are we like, in an alternate self healing dimension or something?

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Higher interest rates means less investment, resulting in these companies racing to make a profit. The reality is that Reddit is bleeding money and has been for years, and Twitter is barely profitable.

Where do you see this information on their profits?

There isn't much public information because all those companies are private. But, various journalists have looked into things and declared it isn't profitable, for example:

That has left Reddit, known as a bastion of free speech, walking a delicate tightrope between its outspoken audience of 330mn monthly active users and new advertisers that can propel it into profitability.

https://www.ft.com/content/c4c01d86-85f5-49c8-9966-cbf935d834a2

Awesome. Thanks for the follow up. Crazy how hard it is to find. I’m sure their income is enough to pay them decent wages though. Not the moderators though, screw those people