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I don't know if they're wrong. HN's primary utility is promoting YC's job openings and product announcements alongside the more important industry-wide news. Turn it into a generic link aggregator, and owning/moderating/updating the site might be more trouble than it's worth.

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You forgot to mention the great discussions that take place here and that revolve around topics that are very relevant to your readers.

It is, but that doesn't bring value for the owners on its own. Something else has to exist on top, or you'd have to run the service and moderation on donations. The forum on its own has negative value.

Now you are talking about value but you asked about cost. They are not the same.

bigyabai is talking about utility from perspective of the owner or a hypothetical buyer, not concerned with the wider community.

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