192
Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year
(www.thedailybeast.com)
this post was submitted on 23 Feb 2024
192 points (97.1% liked)
17374 readers
347 users here now
News and Discussions about Reddit
Welcome to !reddit. This is a community for all news and discussions about Reddit.
The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:
Rules
Rule 1- No brigading.
**You may not encourage brigading any communities or subreddits in any way. **
YSKs are about self-improvement on how to do things.
Rule 2- No illegal or NSFW or gore content.
**No illegal or NSFW or gore content. **
Rule 3- Do not seek mental, medical and professional help here.
Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.
Rule 4- No self promotion or upvote-farming of any kind.
That's it.
Rule 5- No baiting or sealioning or promoting an agenda.
Posts and comments which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.
Rule 6- Regarding META posts.
Provided it is about the community itself, you may post non-Reddit posts using the [META] tag on your post title.
Rule 7- You can't harass or disturb other members.
If you vocally harass or discriminate against any individual member, you will be removed.
Likewise, if you are a member, sympathiser or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people, and you were provably vocal about your hate, then you will be banned on sight.
Rule 8- All comments should try to stay relevant to their parent content.
Rule 9- Reposts from other platforms are not allowed.
Let everyone have their own content.
:::spoiler Rule 10- Majority of bots aren't allowed to participate here.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
So Reddit made a respectable profit in 2023 of 102 million, but Spez felt he was worth twice the entire margin and 2-4 times what even established tech CEOs typically make. If he was happy with the paltry CEO pay that poor companies like Microsoft offer /s, Reddit would have posted ~ 50 mil in profit?
Listen, I'm not a financial expert, but how is that not some form of fraud?? My company posted a MUCH smaller loss (in one region!) than that and we had auditors crawling through our assholes looking for the why. Every transaction was looked at, every expense had to be justified, people lost their jobs, one is under federal investigation!!, and key leadership got busted back down to frycook - and rightfully so.
You're telling me the board (or ownership??) hired someone at arguably quadruple market rates and double their expected yearly margin to make them profitable and then posted basically a 9 figure loss that could be entirely contained in that one transaction....and that somehow isn't some sort of Trump-NY-Esque business valuation defrauding of their existing investors/tax fraud?
"Oops we made zero money for you guys last year because we actually made sure to pay all of it and more to this one guy, more money pls" right before an IPO?