- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
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They might have been able to turn a profit, but apparently u/Spez (fucking dipshit) collects over 190million in CEO compensation.
Yeah, I saw that article too but it’s misleading. According to the S1 filed with the SEC, spez’s current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It’s not the reason reddit isn’t profitable.
Could you elaborate on that for someone who has no clue about stock market stuff?
Great twist: users can by stocks. They can profit from their online activity, from their attention.
What looks great becomes weird if you think through it. You get a fraction of the profit of advertising that plasters your online home, a fraction of the text inputs, and you only get it if profit is positive. Before that you put your money in a stock that is very likely to fall down as there is obviously no interest of big money.
Best way to fck yout user base. Glad to be here in fediverse
