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Discord is laying off 17 percent of employees
(www.theverge.com)
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this post was submitted on 11 Jan 2024
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You hit the nail on the head.
I see this so many places - nobody asks “how big does this company need to be”? This is the problem with public companies - they are caught in an endless growth trap. Private businesses at least get to a point where a) growth has to happen sustainably because often there isn’t endless money available to invest and b) once you’ve got one private jet, as owners, do you really need another?
Reddit was no different. Maybe it would have been better for us all if it was a much smaller team and just careful tendered like a garden that had filled its plot.
But isn't Reddit still private?
Well yeah, but we both know they are behaving like a company heading for an attempted IPO.
But that's why I don't think the private vs public company distinction is what matters. When it comes to private, there's a whole class of private equity owned companies that some people won't even consider working at because of the reputation their cost cutting and flip mentality is. It's not a black and white private good public bad because only one has public share holders and exchanges.
It’s definitely not as simple as my quick comment on Lemmy pretends, agreed.