Reddit founder and CEO Steve Huffman gifted himself a stunning $193 million compensation package — while mods get nothing.
Reddit CEO: Suck it plebs.
Probably.
this post was submitted on 21 Mar 2024
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That douche can go fuck himself
If the company does well, I will do well
And if the company doesn't do well, he gets to fuck off and retire on more money than ten people can reasonably spend in a lifetime
Spez is such a fuckin tool
Christ, what an asshole.
Why does he need to?
He's made thousands of people work for him for free and contribute data for him to sell for free. By most business definitions he's a legend that all other ceos wish they could copy.
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I mean i would do tht same thing if I were in his position. The mods are dumb as shit to do a job for free and the site has been astroturfed for over a decade. Just embrace the bullshit and get paid and laid and sail off into the sunset. Alternatively he's probably going to suck it dry and then sail off.
It's fucking hilarious how subs still have pinned "we're open under protest".
But anyway, I think now that his wage is out and soon enough we'll learn about the hundred of millions he has in stock, at least some mods will have had enough and leave.
Capitalism – in it's current form, a system where some exploit others in order to make profit.
I think you mean where rich people rigging the system exploit people who have to follow the rules.
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This is the best summary I could come up with:
Much-hated Reddit founder and CEO Steve Huffman gifted himself a stunning $193 million compensation package — while unpaid moderators on the platform have yet to see a single dollar, as Variety reports.
During a recent Q&A video posted to the subreddit named after the company's brand new New York stock exchange ticker RDDT, Huffman argued that he was totally justified in paying himself more than the CEOs of Meta, Pinterest and Snap combined.
"When your entire business model is one prick taking nearly everything," one user wrote in a discussion about the IPO on the subreddit r/wallstreetbets last month.
Not long after, Huffman accused moderators — volunteer power users who have historically kept many communities from melting down into a toxic cesspool — of being "landed gentry."
Instead of focusing on its users and the value of self-governance by volunteers, Reddit has agreed to hand over content they've generated to Google to train its AI models, in efforts that are now being investigated by the Federal Trade Commission.
One top-voted post claims Reddit's IPO is a "pump and dump" scheme, accusing the company of fraudulently inflating the value of its stock before cashing out.
The original article contains 621 words, the summary contains 193 words. Saved 69%. I'm a bot and I'm open source!
Fuck Spez. I left Reddit and I’m here now and happier for it.
The problem were the mods who didn't know any better. Spez hid his intentions very well, and made all the mods look like fools working for free
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