That happens all the time with publicly traded companies. This is the reason why we had the dotcom bubble burst in the last 1990s.

https://seekingalpha.com/article/4477033-reddit-unprofitable-despite-growth

Nevertheless, like many IPOs, Reddit remains unprofitable. The question for investors is whether Reddit can achieve minimum viable economies of scale and achieve profitability. So far, there are no indications that this will happen.

There are few other sources that say reddit is unprofitale.

This change sucks. But, from what I read, Reddit have NEVER been profitable. If they were smart, they would modified the API so it included ads. I don’t think Reddit is long for this world. Even if these protests were effective, reddit is eventually going away. They’re too big to make a profit now.

It does!

I use Firefox, because of Firefox containers and total cookie protection.

But with Safari adding profiles to the next version, I will need to revisit Safari again.

Both are bad choices. When reddit says open /r/pics or else, you just delete /r/pics.

Reddit has NEVER been profitable. It’s the classic:

1. Takes a bunch of venture capital funding
2. Builds a huge user base
3. Get bought
4. Parent company tries to figure out a way to make money off of you.
5. When they can’t, they try to spin you off and IPO you.
6. You have your “oh shit” moment and realize you actually have to be profitable now.

This is the crap that caused the dot-com bubble in the late 90s.

Their current business model is unsustainable.

They’re doing the API war out of sheer survival.

The sad part is, we all went along for the ride, using the service and filling it with useful information, never wondering if it was still going to be there a decade or two later.

Reddit wants to IPO. Having gone through the IPO process twice now with a company, I can tell you, the only thing that matters is money in the bank. The more money you have in the bank, the more you can charge for your IPO. When I worked at CompUSA back in the 90s, we didn’t pay any of our creditors for something like 6 months before the IPO to swell the bank accounts. I remember the week before the IPO, we had almost nothing in the store, because we owed everyone money. 30 days after IPO, trucks came rolling in again with product.