We live under corporate feudalism
$804M in revenue… $286M to CEO and COO pay alone… so just two officers are worth 35% of the company’s annual revenue? Not profit, because it isn’t profitable, but just base revenue. Not even Elon Musk is paid that high a percentage of revenue.
Even ignoring the fact reddit doesn’t pay anyone for moderation, and all their other reliance on community freebies… That’s insane.
And they want to go public with that info? They believe that’s a financially sound position to be in heading into an IPO? Spez is even more stupid than I thought.
Yeah I didn’t really have a frame of reference for this but I was shocked to discover that Tim Cook was ‘only’ paid 62million usd last year. (!) Looking at the success of both companies, Huffman’s pay seems wildly out of proportion.
His buddies are probably shorting it.
I haven’t been on Reddit in a very long time. I wonder if this story or any like it or getting posted on Reddit and surviving for more than five minutes before they’re pulled.
TL;DR - Spez is a greedy little pig boy.
Fuck you, spez.
Fuck you spez
Jesus fuck, no wonder they never break even. “the site is expensive it doesnt return its investment we need to add spambots and superads, and also remove gold and completely ignore user needs”
Absolutely insane. Considering how shitty their UI is as well as them not paying their mods. This an incredibly naked theft of labour. This is many times more appalling than the 3rd party app debacle.
I went on the reddit post for this article. There is a lot of resignation from the people there, not anger like before. Most of them don’t seem to know about the fediverse but I can tell they are truly seeing the death of Reddit and are not sure what to do. As much as I would like to I refuse to make an account to spread the word.
Anyway, I think this is an indication that we will be seeing further growth here on Lemmy.
Even if they paid the kid only, I dunno, $100 million, how many community mods could have been paid with the remaining $93 million?
How anyone can believe that it is possible for any single person to do something so meaningful in the same 24 hours we each share every day that they deserve payment so drastically disproportionate, so…disgustingly obscene, really, is beyond me.
It’s super depressing that Aaron Swartz is just straight up ignored as a co-founder these days.
I hope for a slow and painful death to Reddit.
Spez removed him from the founders page on reddit a year or so after he became CEO. The most recent time.
Fuck Spez, what an asshole
Fuck spez
Fuck spez
I haven’t been on Reddit since the API mess. How are most users reacting to this news? I would assume either not happy, but ultimately don’t care or ignorant completely.
It is and has been a mainstream site for a while now. It’s followed the same trajectory as Facebook. The typical user only cares about the topics that interest them. They have zero interest in what’s happening in the background and are fully accustomed to being blasted in the face with ads 24/7.
Recommend reading some of the comments:
Interesting. Similar comments between Reddit and Lemmy on this topic. Like very similar but the tone on Reddit is of the victims whereas here we are wondering why they are still over there when they do not have to be.
From what I gathered the vast majority of them don’t know the fediverse exists. Lot of “where do we go”. But I saw a couple of comments mention it.
Whoa there, pardner! If posting a reddit URL, please use old.reddit.com instead of www.reddit.com so those of us using privacy tools can still access it.
Edit: Is it just me, or are some reddit links with old.reddit requiring a login?
Doesn’t really work, takes me to the log in page instead of the post
What’s he gonna do with 193 million, trickle down economics? -_-
trickle deez nutz on spez and all oglirarchs
Fuck you, Spez
Delusional. Feudalism. Reddit 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
