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The Reddit Blackout Is Breaking Reddit
(www.wired.com)
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this post was submitted on 17 Jun 2023
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Technology
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Sure, that is pretty crappy. But I liken that to employees who build their budgets and personal financing around bonuses. Nice to have, but not a guarantee and wrong thing to assume you'll get them. Always assume equity will be zero, IPOs benefit C-levels and investors heavily.
I can't find much on reddit's equity offerings for employees but I imagine it's, at best, a pittance. Their other benefits are top notch though. No wonder they "don't turn a profit".
Of course, if the workforce is dependent on the bonuses to survive, then the actual pay is predatory and artificially low. The bonus part is just a carrot on a stick, which they beat you with if you aren't perfect.
I agree with you. My point was that 40% is a big hit, especially if you're not already wealthy. It might even be enough to start disgruntling workers.
I'm thinking that's why that memo got leaked, there's already dissension among the ranks. I'm sure he's absolutely livid like his idol Mr Musk.