this post was submitted on 10 Jun 2023
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The example I give again, and again, and again is Craig Newmark, founder of Craigslist. Craigslist remains private (which shields it from being gutted by Wall Street vultures, for sure) so we don't know for sure, but Craig is believed to retain a controlling stake alongside current CEO Jim Buckmaster and eBay (which purchased a large stake from an exiting employee).
Craigslist makes about $600 million annually, and I'm sure provides a nice living for the executives and employees there, but has remained true to its core function of providing transparent and easy classifieds posting to everyone (mostly for free, even!)
Notice what happens when an organization becomes a vehicle for profit, beyond simply "self-sustaining profit." Notice how taking on investors practically guarantees that outcome.
I thought Reddit was dead the day Conde Nast bought it. They've survived quite a bit longer! This day had to come. Let's move on.
We can build something that primarily exists to create a community.
I had no idea Conde Nast bought Reddit. That is unreal. As someone who used to adore Wired magazine, fuck Conde Nast!
Yeah, no use saving Reddit. Give up your darling, let better things take over.