"Reddit has been at this for almost 20 years and hasn’t managed to become profitable."
That's assuming Reddit was the same team for that 20 years with the same goals. Reddit was acquired soon after they received seed funding, and essentially ran on fumes under Conde Nast. It wasn't until 2015 when they started hiring ex-Paypal and ex-Facebook folks to come in and start turning it into a business.
"Reddit has been at this for almost 20 years and hasn’t managed to become profitable."
That's assuming Reddit was the same team for that 20 years with the same goals. Reddit was acquired soon after they received seed funding, and essentially ran on fumes under Conde Nast. It wasn't until 2015 when they started hiring ex-Paypal and ex-Facebook folks to come in and start turning it into a business.