this post was submitted on 23 Feb 2024
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year (www.thedailybeast.com)
submitted 8 months ago by [email protected] to c/[email protected]
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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.

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[–] [email protected] 524 points 8 months ago (9 children)

So… the asshole who used reddits “unprofitability” as a fig leaf for hamstringing their user base with a garbage API policy just so happens to be the same guy that got paid 25% of the entire company revenue for the last year?

What a Fucking chode.

[–] [email protected] 43 points 8 months ago* (last edited 8 months ago)

Standard, capitalist, non-unionized corporation. The exec layer and the major shareholders decide what to do with the revenue. Unsurprisingly they often decide to take as much as possible. Customers, users, employees have no leverage in the matter. Works as intended. 👌

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