- cross-posted to:
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- cross-posted to:
- [email protected]
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I’ve said it before and I’ll say it again (not on Reddit): Fuck Spez.
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If only spez would do the same
Delete their comments?
I’d like to see Reddit “deleted by creator”
Lmao look at his big stupid mouth what’s the meme he looks like now it escapes me
It’s the greedy pig one
Greedy little pig boy
it’s this. This is what it reminds me of.
I genuinely don’t understand how we, as a society, reached a point where delusional businessmen like this exist. What can he possible do, to justify earning this much money, while his company is literally failing in real time
There was a study about this. They gave some people an advantage in a game, like more starter money and more money when passing start in monopoly. Of course they won and if asked why, it was because they were just better than the other players. The same psychology plays out with CEO’s. They had an advantage of rich parents and/or got lucky, but will always say it’s because they are just better than the rest. And that plays out in wider society in a nice circular reasoning.
They are successful because they are better than te rest. They are better because they have money. They have money because they are successful.
It gets lapped up by the ones believing in individual freedom and making your own fortune, because current society, especially in the USA, has been one big experiment in extreme individualism. In practice it mostly turned out to be, partially by design, the old aristocracy under a new veneer.
It’s always been like this. It was tempered for a little while post WW2 (we’re in this together mentality) and then with unions. But that’s all over so there’s nothing stopping skyrocketing ceo wages.
The reality of his compensation package is a lot more nuanced. The 9 figure number is eye popping, but he’s being paid less than $2 million over 2023-2024, and almost all of the rest is contingent upon a successful IPO and then reaching a set of (incredibly unrealistic) stock valuation benchmarks. Reddit’s stock has to hit something like $45/share for him to see 8 figures and $90/share for him to realize the full amount.
I’m in no way defending this pay package or his shitty behavior, just pointing out that he’s not just getting handed $200 million outright
but he’s being paid less than $2 million over 2023-2024
Read that again. Someone making federal minimum wage would have to work 8 hours a day 5 days a week with no sick days and still wouldn’t make that much in like 130 years, which is well beyond even a generous human lifespan let alone the usable years of a lifespan.
That federal minimum wage is grossly below what is needed just to survive is a different argument, except that it’s people like Steve that are responsible for the disparity between income and subsistence level.
I read it when I wrote it, I’m comparing $2M to $200M here, not to minimum wage, and not defending anyone
That’s the problem though, you’re comparing two ridiculous numbers for one person to make in a year and trying to convince us that one is less bad for some reason. Their both psychotic. And yes, you are in fact defending it as evidenced by you replying to defend it. Come on, man.
$2 million over two years is actually a pretty reasonable salary for the founder and CEO of a major company by comparison to other major companies, and is two orders of magnitude less than $200 million. Two orders of magnitude less than $2 million is $20,000, that’s the scale of difference we’re talking about here
Already hit 45
Unfettered capitalism.
Time to tax the corporations and the wealthy for their fair share again.
Want to solve almost all our problems? Redistribute wealth from the 1% who spend it on yachts to the rest of us to spend on healthcare, wages, etc.
Small business owner making 6 figures a year? I am not talking about you.
Spez, making 9 figures? That is who I am talking about and where the problem lies.
End stage capitalism. The snake is eating its tail.
Yes, tax them! Failing to do so is one of the greatest failings of neoliberalism. And of course conservatives have always defaulted to giving corporations everything.
You know, in 1968, just 56 years ago, corporations were paying 52.8% tax rate! This allowed us to invest in our own people and fund so many wonderful programs for growth and prosperity. And these corporations paying over 50% of their profits in taxes were happy to do so! Because it meant they got to do business in the USA.
Now that they aren’t being taxed at even half that rate, what do they do? Buy politicians off for even lower taxes, purchase their own stock to artificially inflate its value, and pay dumbasses like spez 100s of millions of dollars yearly. And if those CEOs fuck up and tank the company? Golden parachute for you - multi-million dollar exit packages and easy access to new boards and leadership positions at other corporations. It’s sick.
All we are asking for is access to affordable healthcare, decent education to better ourselves and level up our skills, and the means to make a decent enough living to afford a roof over our heads and not have to panic about paying for it each month. This shouldn’t be too much to ask in a nation of such incredible excess.
Entitlement. He got better because he comes from a well to do family and all the privileges that brings. He believes he deserves it, plain and simple.
Don’t forget the rest of your phrase there: justify… “to who”?
If to you, he would have to do a LOT more than he has, for you to still buy in despite seeing that.
To them, merely having the title of “CEO” seems to be enough, to those who refuse to dig deeper. pOsItIoN oF aUtHoRiTaH.
They will be shocked, Shocked I tell you, SHOCKED when their money goes poof.
Put another way, your question presupposes several things, e.g. “In a fair world, how could that be allowed to happen!?”.
BTW, Donald Trump lowered the funding for the SEC, the agency responsible for investigation of financial fraud matters. Also he + the Republican Congress lowered the funding for the IRS too. After ACTUALLY “defunding the police” with his right hand - while simultaneously claiming that the leftists wanted to “defund the police” with his left - we will see a lot more of this than we did in the past.
In the past, criminals feared the police and did not want to get caught. Now that there are fewer investigations into financial frauds… we have FA, and we are about to FO.
You are not stuck in traffic. You are traffic.
If the company does well, I will do well
And if the company doesn’t do well, he gets to fuck off and retire on more money than ten people can reasonably spend in a lifetime
How much does he make? I don’t want to open the article
Fuck spez
That depends, how much is he paying me to do so?
ew
Eh, for 190 million USD, I’d do it.
I’d do it for 200k, and not a penny less
Well if you need the money that badly, then I won’t stop you.
Fuck spez
I mean, credit where it’s due. If not for him, I’d probably be browsing Reddit right now instead of Lemmy. So, there’s that.
It just got so bad. I can’t imagine how terrible it is now. I would love to see post pandemic stats.
They’re all faked for the IPO grift.
I still surf both. Unpopular, I know, but Lemmy does not yet have the super niche communities that barely exist on reddit.
Imo, it’s about the same. Some subs have gotten worse, some have gotten better, but that’s how it’s always been.
I do Google search for specific beer questions.
Example: Reddit+Syracuse NY+best breweries
That’ll give me good info without having to get on Reddit.
That’s good for sure. I still enjoy browsing those many nice communities unfortunately… I definitely search for stuff like that when I need to find specific things.
If you use the
site:reddit.comoperator, you might get better luck, since it automatically excludes any sites that aren’t Reddit.Protip: set up a macro to type out site:reddit.com if you can’t be fucked to type after every search.
Same, lemmy first, but I visit my favorite game subreddit daily too, I try not to comment or vote, not that it matters in the end.
The default front page subs are the same brainrot they’ve always been, and the niche early 2000s anime subs are still as great as they’ve always been
Every once in a while I pop in just to see the homepage. The content isn’t super great anymore. Honestly, the best stuff on Reddit are all the old threads about things.
Also, there are some small interest communities that’s just don’t have a good presence on Lemmy right now. It enough people here. For example, the community for my city, which is a major US metro, has like 3 active people here.
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Say what you want about Adolf Hitler, but he did kill Adolf Hitler.
🪙
Came here for the fuck spez. Was not disappointed.
Fuck spez
The problem were the mods who didn’t know any better. Spez hid his intentions very well, and made all the mods look like fools working for free
Its been obvious for weeks with the slow drip of news, the mods were getting the shaft and nothing was done about it (to my knowledge).
Either they really fear the sobriety from their little bit of authority, there’s a movement that’s going on in a Discord in a back alley and nobody’s said anything, or these people really are rubes, fucking buffoons, absolute morons.
And I doubt the last point because I saw firsthand how Reddit admins quickly turned the argument against the protesting “power-tripping” mods during the API revolt with blatant astroturfing. I saw it. I know it happened, you can’t tell me otherwise.
In the end it was a subset of users that basically told mods “you’re just janitors, we don’t need you, anyone can do your job” followed by a partial exodus and… a major drop in quality on all but the larger subs.
Spez hid his intentions very well
He did?
Yes he did. People are associating what happened with the short term, ie the last couple of months, but spez has this planned for years when we were all in the dark
Spez is such a fuckin tool
The guy is just trying to cash out as much money out of Reddit as he can until people realize how overvalued the site really is.
You gotta be dumb as fuck to work for free at a profit company
Look at that. Now there’s a face who only cares about money. Kids, if you look into a mirror and have that kind of face, you may be an asshole. Just saying.
fuck that guy
Yeah. You’d have to be an idiot to work for that guy for free at this point, unfortunately.
If only there were an alternative platform to Reddit that we could use instead.
During a recent Q&A video, Huffman argued that he was totally justified in paying himself more than the CEOs of Meta, Pinterest and Snap combined.
“If the company does well, I will do well,” he said. “If the company does not do well, I don’t either.”
Motherfucker is saying NOTHING. Generic ass, MEANINGLESS STATEMENT
I think what he means is, his compensation is mostly tied to stocks and therefore stock performance.
No, he won’t be poor if it does badly but it would change his compensation in a huge way.
Edit: .2% (rounded up) of his compensation is just normal salary. The rest is stocks.
I mean, what do you expect him to say? “Lol, get fucked”?
A little bit. He doesn’t strike me as the type to keep the quiet part quiet.
It’s also a lie. If the company does well, he gets richer. If the company does not do well, he’s still rich.
He’ll still get a golden parachute if the company goes to shit.
He will continue unless he ran out of free labour force.
