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Reddit CEO Triples Down, Insults Protesters, Whines About Not Making Enough Money From Reddit Users (www.techdirt.com)

submitted 1 year ago by tvbusy@lemmy.dbzer0.com to c/news@beehaw.org

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[-] cakeistheanswer@lemmy.fmhy.ml 3 points 1 year ago

I'm cynical as ever, but I think it's a cash out.

There's not a better incentive to build a better product when they ran most of the independent boards into the ground, leaving them at a relative high.

I don't think there's a universe they can compete with free when interest is going up. All the reversals and user hostile policies are going to drive people away, how quickly that bothers Hoffman, the board and ohanian is probably just a matter to how quickly they can unload through the IPO.

[-] StewieTheThird@beehaw.org 4 points 1 year ago

I agree, and the hard pivot outwardly over policies and the near antagonistic stance the admin team has suddenly taken has got to be a precursor to something we not be aware of yet. Spez feels like a willing scapegoat to make a few million as he parachutes out when it blows up. They will use him to implement the unpopular decisions, get it "profitable" leading up to the IPO then remove spez and bring in a populist type CEO to smooth over the dissent. Maybe give better tools, act like they give a shit but not actually roll back any changes.

We know this tactic as its something wall street does all the time, and something reddit specifically has done before as well.

this post was submitted on 18 Jun 2023

187 points (100.0% liked)

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