Wow. Front page of huffpost.com right now. Interesting...
this post was submitted on 17 Jun 2023
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When you start to talk about share holders more than your users, then you know you are lost.
โI think every business has a duty to become profitable eventually โ for our employees shareholders, for our investors shareholders and, one day as a public company, hopefully our user shareholders as well,โ - quote from the article
I wouldn't say "lost" per se, as they are a company in business to make money.
But when your site exists because of user input, because of user moderation (done for free), you're damn well not looking at the "big picture" when all you talk about is shareholders.
Not every company has to exist to make money for somebody. Reddit didn't start that way. Remember when there was a little bar of "reddit gold paid this much for server hosting" - people wanted to give Reddit money.
I feel like the reddit mods should come up with a "letter to the shareholders" and sticky it to the top of every major sub.