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Yeah I just don't see a value Reddit can have for shareholders, other than selling ads (even more). If it was insanely profitable, the owners would be reaping profits already.
More companies should stay private, look at Steam for example, they're doing things at their own pace and developing things that aren't instantly profitable because they're not concerned with shareholders opinions.
Indeed. I'm not a super big fan of Capitalism in general, but often times private company owners are at least sensible. Shareholders on the public market have a collective mentality of "MORE MONEY!!!" and some company models just aren't compatible with that, especially social media companies which are barely profitable to begin with.