The best thing about his deeply fuckheaded comments is that it’s a perfect example of the sick way the ultra wealthy operate, presented in a way reddit users can absolutely understand.
The act of building early reddit was a group effort. I have no idea how much Spez contributed to the concept, but he did code it – a task that realistically millions of people also would have been able to do.
But a platform without users is nothing. It was the users creating content that truly built reddit and the unpaid moderators who stopped it collapsing under the weight of spam and extremism.
While that was happening, spez shit the bed over and over again. He sold out too early. He openly advocated platforming extremists. He got called out for the bigotry he tolerated in his company. He alienated his most important users so he could sell their content to AI companies.
And now here we are. He makes an absurd amount of money, despite being shit at his job, despite being a clearly bad person and despite his accomplishments being ordinary. Meanwhile, the people he needs, who are critical to his business, are paid nothing.
This is the same setup as Amazon, Walmart, Uber and a million other businesses, distilled down to its very essence.
Billionaires don’t earn their money. Nobody can earn that much because nobody is that valuable. The ultra wealthy only exist, because they stole from the people below them on the ladder. They stole their wages, benefits, pensions, unions, and pocketed the money.
If you’re ultra rich, you did it by fucking over the people below you.
If we could, we would have already. We can’t really, and he is in a position to be as greedy as he can possibly imagine. $193M is in his pocket right? We all mad but who is gonna take it away? Appeals to decency are cute but a waste of time. He put himself in a position where he can sell things that he didn’t make nor that belong to him and it’s all legal and that’s reality.
Of course we could. We just don’t think it’s worth it because we’re not starving to death at large. We’re in the comfort zone still where it’s better to sit down and be mostly obedient.
I’m actually kind of interested in this point. Going public for many people is about the growth in the company. No one wants to put money in apple because its stocks are expensive. Its because they forsee it going up.
But i thibk youre right he sold out too early. Peope are willing to invest because of the potential outcome of selling api data to ai companies. People are interested to hear the potential financial increase of api prices making more profit. People may be interested of the potential change of nfts or whatever to drive more money.
But all of that has already happened, hes sold out all those items before the ipo. So i feel like a lot of people are like “what growth left is there?” And infact “is that growth negative going forward as users turn away or are hungry to jump ship if possible”
Who knows though what will happen, maybe im entirely wrong.
He actually sold out early in a much more obvious, objective way.
Huffman and Ohanian sold Reddit to Condé Nast on October 31, 2006, for a reported $10 million to $20 million. Huffman remained with Reddit until 2009, when he left his role as acting CEO.
That’s a tiny fraction of his current compensation. He then spent a while backpacking around and started a mediocre company that’s since closed down.
He is neither a shrewd businessman, coding god, nor visionary genius. He’s just some guy that was in the right place at the right time.
The same is true of practically every executive pocketing grotesque compensation, with the only difference being “the right place at the right time” is more often “in a rich woman’s womb” or “at an extremely expensive school”.
He isn’t being paid $200 million a year for his talent. He’s being paid $200 million a year because instead of paying staff better wages, or not enshittifying the site, or paying moderators and content creators, he simply pocketed that money for himself.
It’s what this neoliberal utopia always is. Executives stealing workers wealth and claiming they earned it for stealing so much wealth.
Being able to contribute to a community can feel very rewarding even when you get little to no compensation for it.
Many open source contributors know it all too well that their contributions can and will be used by big tech to make even more money.
Massive backups are both costly to maintain and also costly to run in general. I work on an enterprise system with hundreds of machines and we have a whole separate DR environment that does nothing but backups for hundreds of thousands of dollars a month.
Similarly, in the midst of historic layoffs in the tech industry, no one blames the CEO for horrible management leading to the over hiring or bad management that led to this. O one blames Zuckerberg for renaming his company and betting an an absurdity that is already being scraped off of PR releases. All because some growth number goes up. It’s insanity.
The best thing about his deeply fuckheaded comments is that it’s a perfect example of the sick way the ultra wealthy operate, presented in a way reddit users can absolutely understand.
The act of building early reddit was a group effort. I have no idea how much Spez contributed to the concept, but he did code it – a task that realistically millions of people also would have been able to do.
But a platform without users is nothing. It was the users creating content that truly built reddit and the unpaid moderators who stopped it collapsing under the weight of spam and extremism.
While that was happening, spez shit the bed over and over again. He sold out too early. He openly advocated platforming extremists. He got called out for the bigotry he tolerated in his company. He alienated his most important users so he could sell their content to AI companies.
And now here we are. He makes an absurd amount of money, despite being shit at his job, despite being a clearly bad person and despite his accomplishments being ordinary. Meanwhile, the people he needs, who are critical to his business, are paid nothing.
This is the same setup as Amazon, Walmart, Uber and a million other businesses, distilled down to its very essence.
Billionaires don’t earn their money. Nobody can earn that much because nobody is that valuable. The ultra wealthy only exist, because they stole from the people below them on the ladder. They stole their wages, benefits, pensions, unions, and pocketed the money. If you’re ultra rich, you did it by fucking over the people below you.
And it’s time we fuck them right back.
If we could, we would have already. We can’t really, and he is in a position to be as greedy as he can possibly imagine. $193M is in his pocket right? We all mad but who is gonna take it away? Appeals to decency are cute but a waste of time. He put himself in a position where he can sell things that he didn’t make nor that belong to him and it’s all legal and that’s reality.
Of course we could. We just don’t think it’s worth it because we’re not starving to death at large. We’re in the comfort zone still where it’s better to sit down and be mostly obedient.
oh god the 2nd graders are readin marx agin
I’m actually kind of interested in this point. Going public for many people is about the growth in the company. No one wants to put money in apple because its stocks are expensive. Its because they forsee it going up.
But i thibk youre right he sold out too early. Peope are willing to invest because of the potential outcome of selling api data to ai companies. People are interested to hear the potential financial increase of api prices making more profit. People may be interested of the potential change of nfts or whatever to drive more money.
But all of that has already happened, hes sold out all those items before the ipo. So i feel like a lot of people are like “what growth left is there?” And infact “is that growth negative going forward as users turn away or are hungry to jump ship if possible”
Who knows though what will happen, maybe im entirely wrong.
He actually sold out early in a much more obvious, objective way.
That’s a tiny fraction of his current compensation. He then spent a while backpacking around and started a mediocre company that’s since closed down.
He is neither a shrewd businessman, coding god, nor visionary genius. He’s just some guy that was in the right place at the right time.
The same is true of practically every executive pocketing grotesque compensation, with the only difference being “the right place at the right time” is more often “in a rich woman’s womb” or “at an extremely expensive school”.
He isn’t being paid $200 million a year for his talent. He’s being paid $200 million a year because instead of paying staff better wages, or not enshittifying the site, or paying moderators and content creators, he simply pocketed that money for himself.
It’s what this neoliberal utopia always is. Executives stealing workers wealth and claiming they earned it for stealing so much wealth.
I don’t understand why the mods continue to work. They literally keep the site alive so this guy can take all the credit and all the compensations.
Being able to contribute to a community can feel very rewarding even when you get little to no compensation for it. Many open source contributors know it all too well that their contributions can and will be used by big tech to make even more money.
Plenty of them didn’t, so reddit replaced them with scabs.
Unfortunately, the fact that they understand it doesn’t mean they will do anything about it.
I left and took my data with me. 🤷
Dozens of us out there!
Baker’s Dozens!
You can’t really delete anything from reddit, there’s an archive of everything
Get banned
You can always post the video of my custom chargeport cover. That earned me a couple of bans - https://www.youtube.com/watch?v=7fXJCXQJzj0
That’s incredible. I am inspired.
Here is an alternative Piped link(s):
https://www.piped.video/watch?v=7fXJCXQJzj0
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source; check me out at GitHub.
Everything is backed up it doesn’t matter
Massive backups are both costly to maintain and also costly to run in general. I work on an enterprise system with hundreds of machines and we have a whole separate DR environment that does nothing but backups for hundreds of thousands of dollars a month.
I am a datacenter admin as well.
Believe me reddit is backing up everything as they always intended to sell everyone’s data.
I Redacted my data and that earned me a few more bans from salty mods.
I’d bet you were subscribed to more than a couple toxic subs then because that didn’t happen to me at all.
That was a very well-crafted and insightful comment, especially that last paragraph.
Similarly, in the midst of historic layoffs in the tech industry, no one blames the CEO for horrible management leading to the over hiring or bad management that led to this. O one blames Zuckerberg for renaming his company and betting an an absurdity that is already being scraped off of PR releases. All because some growth number goes up. It’s insanity.