4 ms·

It’s a dinosaur company with a dinosaur board. Other than the CEO of YC every other single member of the board is some aging boomer who has probably never used

by shmatt 3y ago

It’s a dinosaur company with a dinosaur board. Other than the CEO of YC every other single member of the board is some aging boomer who has probably never used Reddit 2 days in a row I feel bad for spez at this point. We obviously are seeing what he deems as the boards request of him. We have no idea what he really feels about everything going on

jonny_eh 3y ago
That is a very generous interpretation of his actions.
- shmatt 3y ago
  He’s (at this point) a non large shareholder CEO. His income is highly dependent on the board not firing him every single day. It’s not a great situation to be in
  - ohgodplsno 3y ago
    Poor miserable spez taking in multiple millions every year in salary. He'll die without that income! Such a terrible situation to be, to simply be a millionaire. Do you realize how tone deaf that sounds?
  - teg4n_ 3y ago
    Isn’t he already a millionaire? I doubt he’s living paycheck to paycheck.
    - deleted 3y ago
      [deleted]
  - jonny_eh 3y ago
    > It’s not a great situation to be in I'll give it a shot!
skinnymuch 3y ago
Saying spez is such a victim here seems quite wrong.
- shmatt 3y ago
  If spez is going against the will of the board/shareholders he’ll be fired any day now…
  - gkoberger 3y ago
    First off, nobody made him raise $1.25bn. He traded his autonomy for money. Secondly, people aren't necessarily mad about him charging for the API. In my experience, most users want Reddit to succeed financially. He could have easily figured out a way to roll this out in a better way. People are mad he's been caught lying multiple times and has at this point decided to declare war on the thousands of people (the mods) who do free work for him, in order to pit users against the mods.
  - jayd16 3y ago
    You just called the board clueless so maybe they're just not strong willed as far as how to handle this sort of thing. Its hard to say who's pushing for what just from the actions alone.
hgsgm 3y ago
No way. spez is the one hamfisting this whole thing.
- shmatt 3y ago
  Yes Sam Altman paid Condé Nast millions for shares of Reddit. And he totally is against all this. But the all mighty spez is ignoring him and doing everything he wants Sure
  - ImPostingOnHN 3y ago
    It doesn't seem likely that spez is being specifically ordered to lie and slander in the way spez is currently lying and slandering
M2Ys4U 3y ago
>We have no idea what he really feels about everything going on "My bank balance is going to look so good once we finally IPO", probably.
- shmatt 3y ago
  But he sold is original shares in 2006. All of them, and for cheap. Any shares he has now are part of his CEO compensation package which is minuscule compared to the investors Even though he’s a cofounder, his current position is like the one of a non founder ceo in a post-exit company
  - rrix2 3y ago
    So only tens or hundreds of millions of dollars? Got it
  - brandall10 3y ago
    He won't end up a billionaire, but I'd be shocked if he won't come out this with a multiple of his current net worth. This is, if he's there for a successful IPO, which is growing more doubtful by the day.
  - M2Ys4U 3y ago
    He's been CEO for eight years... that's plenty of time. It's not like he was brought on 18 months ago just to get the IPO done.
gkoberger 3y ago
I'm not sure who you mean, but if it's sama, he's no longer the CEO of YC nor is he on the board anymore. Michael Seibel seems to still be on the board, but he's no longer the CEO of YC.
matxip 3y ago
This seems like it's implicitly painting a false dichotomy between an implied autonomous Spez that is causing damage and a subservient Spez that is just a name attached to board action. How about this, if Spez is being asked to do stupid things by the board, he's failing extraordinarily to even cushion them with PR, which is the actual least he can do.
officeplant 3y ago
>We have no idea what he really feels about everything going on Idk he's made his views quite clear at this point. Although he may edit them and everyone else's comments again.

by shmatt 3y ago

jonny_eh 3y ago

That is a very generous interpretation of his actions.

shmatt 3y ago
He’s (at this point) a non large shareholder CEO. His income is highly dependent on the board not firing him every single day. It’s not a great situation to be in
- ohgodplsno 3y ago
  Poor miserable spez taking in multiple millions every year in salary. He'll die without that income! Such a terrible situation to be, to simply be a millionaire. Do you realize how tone deaf that sounds?
- teg4n_ 3y ago
  Isn’t he already a millionaire? I doubt he’s living paycheck to paycheck.
  - deleted 3y ago
    [deleted]
- jonny_eh 3y ago
  > It’s not a great situation to be in I'll give it a shot!

skinnymuch 3y ago

Saying spez is such a victim here seems quite wrong.

shmatt 3y ago
If spez is going against the will of the board/shareholders he’ll be fired any day now…
- gkoberger 3y ago
  First off, nobody made him raise $1.25bn. He traded his autonomy for money. Secondly, people aren't necessarily mad about him charging for the API. In my experience, most users want Reddit to succeed financially. He could have easily figured out a way to roll this out in a better way. People are mad he's been caught lying multiple times and has at this point decided to declare war on the thousands of people (the mods) who do free work for him, in order to pit users against the mods.
- jayd16 3y ago
  You just called the board clueless so maybe they're just not strong willed as far as how to handle this sort of thing. Its hard to say who's pushing for what just from the actions alone.

hgsgm 3y ago

No way. spez is the one hamfisting this whole thing.

shmatt 3y ago
Yes Sam Altman paid Condé Nast millions for shares of Reddit. And he totally is against all this. But the all mighty spez is ignoring him and doing everything he wants Sure
- ImPostingOnHN 3y ago
  It doesn't seem likely that spez is being specifically ordered to lie and slander in the way spez is currently lying and slandering

M2Ys4U 3y ago

>We have no idea what he really feels about everything going on "My bank balance is going to look so good once we finally IPO", probably.

shmatt 3y ago
But he sold is original shares in 2006. All of them, and for cheap. Any shares he has now are part of his CEO compensation package which is minuscule compared to the investors Even though he’s a cofounder, his current position is like the one of a non founder ceo in a post-exit company
- rrix2 3y ago
  So only tens or hundreds of millions of dollars? Got it
- brandall10 3y ago
  He won't end up a billionaire, but I'd be shocked if he won't come out this with a multiple of his current net worth. This is, if he's there for a successful IPO, which is growing more doubtful by the day.
- M2Ys4U 3y ago
  He's been CEO for eight years... that's plenty of time. It's not like he was brought on 18 months ago just to get the IPO done.

gkoberger 3y ago

I'm not sure who you mean, but if it's sama, he's no longer the CEO of YC nor is he on the board anymore. Michael Seibel seems to still be on the board, but he's no longer the CEO of YC.

matxip 3y ago

This seems like it's implicitly painting a false dichotomy between an implied autonomous Spez that is causing damage and a subservient Spez that is just a name attached to board action. How about this, if Spez is being asked to do stupid things by the board, he's failing extraordinarily to even cushion them with PR, which is the actual least he can do.

officeplant 3y ago

>We have no idea what he really feels about everything going on Idk he's made his views quite clear at this point. Although he may edit them and everyone else's comments again.