Because it makes them money. See, monolithic companies don't care about anything other than money and pleasing shareholders. The only way they will ever care about real life issues is if/when they transform into loss of revenue or pressure from their board of directors.

[–] ogeist@lemmy.world 13 points 1 year ago (1 children)

Shareholders can be batshitcrazy too. X/Twitter has been in decline for a while. It's true they could be leeching money from the he far right but I highly doubt so.

[–] Perfide@reddthat.com 16 points 1 year ago* (last edited 1 year ago) (2 children)

Elon took Twitter private, there aren't any shareholders to answer to anymore.

As for reddit, they've been trying to go public for awhile now but afaik they have not succeeded yet, so also no shareholders.

[–] interceder270@lemmy.world 4 points 1 year ago* (last edited 1 year ago)

Yeah, private companies at least have the opportunity to forego greed to ensure a better product.

Heck, even some public companies are able to do it if they can prove to shareholders going the greedy route is a bad business decision (an investor floated the idea around Nintendo that they should charge money to make Mario jump higher.)

This, however, is not one of those companies.

[–] Squizzy@lemmy.world 3 points 1 year ago

He is not the sole owner, he took it private with other people .

[–] gomp@lemmy.ml 2 points 1 year ago

TBH it's not just reddit or social media: Internet's per-view ad revenue is exactly what ruined traditional newspapers (ok, some where shit to begin with)