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I would like to see some reporting on the 10% of reddit's recent $50 million raise that will be distributed to the users. Recent changes (eg. stealth adding li

I would like to see some reporting on the 10% of reddit's recent $50 million raise that will be distributed to the users. Recent changes (eg. stealth adding link tracking) and comments (eg. Huffman's, we know everything about you) have been user hostile and making the distribution would garner some good will.

minimaxir 10y ago
That 10% pledge died when "Reddit Coin" died. (And it likely violated SEC rules anyways)
- jsprogrammer 10y ago
  Do you know where I can find the announcement of the death of the pledge and analysis of how it likely violated SEC rules? I believe Y Combinator was the force behind the pledge, why would they push for and publicly announce something that they couldn't do?
  - minimaxir 10y ago
    There is no announcement of the death, but the project was under Wong and the blockchain engineer with him, so issue is moot. You are correct Y Combinator is behind the pledge (http://www.recode.net/2014/9/30/11631424/reddit-raises-50m-plans-to-share-stock-with-community-members http://www.recode.net/2014/9/30/11631424/reddit-raises-50m-p...), but it was only a plan. Plans fail.
    - jsprogrammer 10y ago
      The project was under Sam Altman [0], lead investor of the raise: https://www.reddit.com/r/IAmA/comments/2hwr02/i_am_sam_altman_lead_investor_in_reddits_new/ https://www.reddit.com/r/IAmA/comments/2hwr02/i_am_sam_altma... [0] http://www.redditblog.com/2014/09/fundraising-for-reddit.html http://www.redditblog.com/2014/09/fundraising-for-reddit.htm...
      - jsprogrammer 10y ago
        Oops, that should have been an is.
  - skeletonjelly 10y ago
    > where I can find the announcement of the death of the pledge The guy who was hired to make it has since left many months ago. Nail in the coffin effectively, they wouldn't announce the death of something they never got off the ground. Just silently brush the remains under the rug. Edit: Found the article I was thinking of https://ryanxcharlestimes.com/fix-reddit-with-bitcoin-7da3f85fb9ba https://ryanxcharlestimes.com/fix-reddit-with-bitcoin-7da3f8... > Yishan would resign a month or so later due to exhaustion, and new leadership took over the company who set out a new direction that didn’t involve any of the work I was doing. The cryptoequity project was shelved, and decentralizing reddit indefinitely delayed. I was laid off after being at the company for only four months.

minimaxir 10y ago

That 10% pledge died when "Reddit Coin" died. (And it likely violated SEC rules anyways)

jsprogrammer 10y ago
Do you know where I can find the announcement of the death of the pledge and analysis of how it likely violated SEC rules? I believe Y Combinator was the force behind the pledge, why would they push for and publicly announce something that they couldn't do?
- minimaxir 10y ago
  There is no announcement of the death, but the project was under Wong and the blockchain engineer with him, so issue is moot. You are correct Y Combinator is behind the pledge (http://www.recode.net/2014/9/30/11631424/reddit-raises-50m-plans-to-share-stock-with-community-members http://www.recode.net/2014/9/30/11631424/reddit-raises-50m-p...), but it was only a plan. Plans fail.
  - jsprogrammer 10y ago
    The project was under Sam Altman [0], lead investor of the raise: https://www.reddit.com/r/IAmA/comments/2hwr02/i_am_sam_altman_lead_investor_in_reddits_new/ https://www.reddit.com/r/IAmA/comments/2hwr02/i_am_sam_altma... [0] http://www.redditblog.com/2014/09/fundraising-for-reddit.html http://www.redditblog.com/2014/09/fundraising-for-reddit.htm...
    - jsprogrammer 10y ago
      Oops, that should have been an is.
- skeletonjelly 10y ago
  > where I can find the announcement of the death of the pledge The guy who was hired to make it has since left many months ago. Nail in the coffin effectively, they wouldn't announce the death of something they never got off the ground. Just silently brush the remains under the rug. Edit: Found the article I was thinking of https://ryanxcharlestimes.com/fix-reddit-with-bitcoin-7da3f85fb9ba https://ryanxcharlestimes.com/fix-reddit-with-bitcoin-7da3f8... > Yishan would resign a month or so later due to exhaustion, and new leadership took over the company who set out a new direction that didn’t involve any of the work I was doing. The cryptoequity project was shelved, and decentralizing reddit indefinitely delayed. I was laid off after being at the company for only four months.