No, if the end goal is quick money the strategy is perfect.

• Amass users in niche interests, don’t mess things up.
• Slowly “mainstream” content, switch focus to engagement and mass appeal.
• Now you have a huge user base. Time to squeeze them.
• Suck up to regulators and investors to keep the ball rolling.
• Squeeze, squeeze, keep squeezing as users slip through your fingers and the line goes up.
• And just before everything explodes, sell Reddit to Big Tech, who absorb it like The Thing. They both win. Alternatively, sell to public markets and leave them holding the bag of shit, and walk away with cash.

The best part? Short term investors love this shit. They thrive on volatility. A sustainable business? That’s boring and less profitable.

The site is turning to shit? Mods angry? Who cares. That’s the problem for whoever is holding the bag next.