shmatt

22 ms·

241.
by shmatt 3y ago
If spez is going against the will of the board/shareholders he’ll be fired any day now…
242.
by 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
243.
by 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 o
244.
by 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
245.
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 seein
246.
by shmatt 3y ago
I would question the monetization value of a user visiting reddit to read a 4 year old post about the best water pump, vs. "normie" users just flipping through their front page These investors are trying to make back 1.3 BILLION d
247.
by shmatt 3y ago
> But if they are smart, they’d rate limit free API access They are, up to 100 requests per minute is still free post change Someone could make a lot of money by building a paid Reddit app with everything people want, and a BYO API key
248.
by shmatt 3y ago
except you don't need to be born a chosen one to become a mod. its not rocket science, and plenty of people want the power have you every thought to yourself, wow, /r/pics is so much better since /u/DM_ME_BOOGERS jo
249.
by shmatt 3y ago
then resigning would have been the way to go. shutting off access to the knowledge base others contributed to is a power play if you volunteer at a dog shelter, and find you don't agree with some of their practices anymore. do you stop
250.
by shmatt 3y ago
My bet is that investors like Andreessen Horowitz and Sequoia Capital are pulling their hairs out, seeing Reddit lose money at the end of the month, after Open AI and others are raising trillions by scraping their data
251.
by shmatt 3y ago
I never understand why Reddit is credited to the "free community based moderation" idea Facebook does this at much larger scale (2B users active in FB Groups), with way more spam, and some FB groups are much larger than most big s
252.
by shmatt 3y ago
This is more like cousins having a baby with 3 nostrils
253.
by shmatt 3y ago
by the time any average series E IPOs, they're all diluted like crazy anyways
254.
by shmatt 3y ago
People (for obvious reasons) like to compare Digg to whats going on at Reddit. It seems a lot closer to Facebook Facebook has always lead the fight to monetize users to the max. If its sudden API changes or shutdowns, or suing 3rd party app
255.
by shmatt 3y ago
You think Facebook would let a large percentage of users use a 3rd party app that blocks all advertisements, tracking, and other monetization? Look at how Meta treated the whole Apple tracking ordeal If a lone dev would have made an app li
256.
by shmatt 3y ago
I swear, the current protests have shined a very odd light on the average commenting Redditor, they want * The website to be free * The API to be cheap * The ability to use a 3rd party app that does not track, advertise, or monetize you in
257.
by shmatt 3y ago
To me Reddit is FB groups with voting. So does that make Usenet similar to FB groups?
258.
by shmatt 3y ago
FB is highly profitable, Reddit loses money. The outrage from users that Reddit is trying to do what everyone in the tech industry does makes no sense And furthermore, if they give up the IPO focus, let’s say they don’t do the obvious and s
259.
by shmatt 3y ago
I find it funny people have been going on this anti Reddit turning profit crusade, but ignore the fact Reddit is pretty similar to Facebook groups, just has much better ui and indexability And everyone I know in real life who uses Reddit on
260.
by shmatt 3y ago
They need to create a username and password to ask that question? If they already have a Reddit account that wins
261.
by shmatt 3y ago
But in the startup world it’s make profit, sell, or shut down Do people really prefer Reddit shut down or be owned by Meta, just because of an app made by a single dev, that someone could buy and keep alive, or 10 companies could recreate t
262.
by shmatt 3y ago
The Reddit board of directors don’t represent the founders, who have probably been long ago diluted to less than 10% They represent investors who sunk 1.3 billion dollars into a company who was spending millions providing 3rd party apps a f
263.
by shmatt 3y ago
You’re asking why do CEOs speak out? Do q&as? Fireside chats? Of course they all speak corporate speak Most of the top questions were childish and useless, asking to get rid of the ads, go back to the original spirit of Reddit. Comparin
264.
by shmatt 3y ago
The thing that will surprise me most is if the mods - who spends tens of hours a week working for free just for their status symbol, will actually remove their accounts and/or shut down subreddits for good, instead of 1 or 2 days Reddi
265.
by shmatt 3y ago
Facebook and Instagram have historically shut down API with 0 days heads up. Breaking apps that depended on them. This is pretty normal for a social network trying to commercialize
266.
by shmatt 3y ago
The mods only power in life is on Reddit. If they give that up they lose everything. Once in a while some crazy stats like 5 mods control 20% of the top 500 subreddits pop up, I’ve never tried to validate but there is definitely a small gro
267.
by shmatt 3y ago
His app icon was showcased front and center at the WWDC keynote, something I always thought was bought with money, for (I assume) free. It has tons of users including paying users. I have a very hard time imagining being able to sell the ap
268.
by shmatt 3y ago
I don't say this pretty much about any person, but I can't stand Gergely Orosz. He was a line manager at Uber EU, and makes notes of his time there like he was SVP in Silicon Valley He speaks of broad terms of "how things wor
269.
by shmatt 3y ago
In many cases it’s “non tech in tech” being fired. They are still recruiting engineers, they probably won’t recruit more non tech this year When the Twitter drama started yesterday I searched LinkedIn for posts from hashicorp employees anno
270.
by shmatt 3y ago
This just means a lot of these people wouldn’t have a job to begin with. Not saying one is better than the other, but if it took months to fire people, lots of US tech companies wouldn’t have grown 30% without thinking twice. Leaving many o

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