this post was submitted on 22 Jun 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.
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He might be LARPing as Musk, but why is the company playing along? Do they really think that Spez is going to make Reddit Inc. more valuable for the IPO?
Does he even have a boss? Who would put the brakes on him in the company?
Chairmen are usually elected by the shareholders, with a weighted vote - if people holding more than 50% of the shares voted to replace spez, then spez would be out. In this case it means that either a lot of shareholders in Reddit agree with spez, or that the most powerful ones do it.
Ugh, I tried to look at redditinc.com to find specifics about whose on the board and the corpo-marketing drivel is so thick I had to stop.
IIRC the biggest shareholder is Conde Nast(y). They're also behind Wired and Ars(e) Technica, that have been criticising Reddit's decision, so I don't think that they're too happy with Spez.
But yeah, it's corpo-marketing all the way - from corpos, to corpos.