It's refreshing to see one that doesn't pull their punches. It's also very refreshing to see the general aura of Elon being this genius fading away finally.
Bowen
joined 1 year ago
It's just corporate accounting. They're profitable but they essentially cook the books to get the tax benefits of being "unprofitable". This is why amazon is still occasionally "unprofitable" even though they're growing year over year. You can't just keep taking out loans to buy and build new warehouses if you're actually unprofitable.
Huffman is just a greedy piece of shit. He, himself, made a comment when talking about Apollo that implied this developer is sitting on millions and he deserves a cut of it. API calls in terms of cost to the company cost fractions of a penny and plenty of large companies make money off their API. They could charge the base cost and add 10% for the profit. The problem is a realistic and reasonable cost for reddit's API would probably cost the apollo dev maybe a few grand a year. Like I said above, Huffman thinks there's a lot more money to wrangle out of developers there, but I'd bet the apollo dev was barely making a fraction of a percent on Huffman's net worth.
When people add you as a mod, you can still leave. He never did. That subreddit in particular was known to have the blessing of the reddit admins to operate and eventually made 'subreddit of the month'. Then a news org picked up that reddit was hosting this content and then they shut it down.
They were well aware of what was going on. Andrewsmith is right, there is some plausible deniability there, but with the everything else we know about Steve Huffman, I'm not so sure I can agree with his assessment that it was forced upon him.
They've gotta reclaim all that lost valuation for their IPO somehow!
You'd have a hard time convincing me he's not. Twitter was an absolutely fantastic way to organize politically. Imagine if you had enough money to casually drop out of your nation's treasury to end it and could squash a lot of political dissidents by doing so. I'm sure he's got a slush fund to end it from some not so great despots.
The irony is reddit was that alternative to Digg.
You'd think Huffman would have the wherewithal to realize that no king rules forever.
They just set their display name to Ruud, that's why it looks like it's from him, but yeah the giveaway is the link to the profile and the flair.