this post was submitted on 18 Jul 2023
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what in gods name is happening over there, between this and removing awards they've been acting really weird since the protest
The CEO likely wants to cash out his job and is making moves that only look good for the short amount of time he has arbitrarily set for when he decides to step down. His bonus is likely dependent on how much the IPO goes for and he doesn't care long term since he's one foot out the door.
He's on record saying they sold for too little the first time and that it had grown more than he thought it would and the $10-20mil he got wasn't enough.
"In hindsight it was a mistake to sell but at the time it was very exciting. I didn't think Reddit was going to keep growing – I thought it was dead. We were so dysfunctional internally. It seemed like the smartest thing to do was just to try and get some money out of it while we could."
Pigboy fancies himself a Zuck or a Musk and is mad he couldn't figure out how to cash in and has to settle for being a puny millionaire. He came back to cash out, he'd cover the site in nudes of his own mother and the family dog if it meant one more dollar for him to walk away with after the IPO. He's a craven little pigboy, there's nothing in there but greed.