And remember, because I feel this always needs to be said with such sums...

193 million isn't enough for him, and 193 million plus whatever millions he made in years prior isn't enough for him. He's going public because he's a broken, disturbed human being that looks at his unethical levels of wealth, enough for most of the other humans that live here to live 2 dozen extravagant lifetimes, and still demands mooooooaaaaaar.

Why isn't this widely accepted as severe mental illness?! This is hoarding disorder.

These aren't big ocean house sums. These are buying politicians sums, and they are only achievable through exploiting other human beings and selfishly pocketing most of the value of their labor because you can get away with it.

This is why I finally left, because the asshole started removing his volunteer moderators and replacing them with employees for the crime of protesting his lies and slander of app developers who brought in hundreds of thousands of users, many of whom are now reading this comment because they're no longer on that sinking ship of a site.

Fuck spez.

That honestly says way more about mods than it does about Reddit. Of course you're not gonna pay for a task people are lining up to do for free, no matter how much they themselves make.

And their content creators are also paid nothing.

I think I might know part of the reason they aren't turning a profit...

The disconnection between the crowd-sourced content (original stuff and commercial articles) and Reddit’s heavy handed dismissal of users always felt weird.

The fact that they (with user help) aggregated OTHER BUSINESS’ content without recompense was a mystery. Like, you didn’t even need to go to the other site to read it.

I used to moderate an older forum site 2 decades ago, (the place is still up and running) they asked me to sign an NDA after realizing I never signed one.

Which seemed reasonable, until I realized, I was an unpaid employee, working in my free time. So, immediately quit and suddenly faced backlash from my fellow moderators in front of users.

Suffice to say, all mods had alt accounts that they used to psychologically torture other board members. This site was owned my a major television broadcaster. My point is, don’t ever work a job someone should be getting paid for.

Numbers like this are always bonkers to me. Like, how have we allowed this to happen?

It’s a fucking social media site. I know surgeons who work 80-100 hour weeks and make 1.5M a year—and even that seems obscene to me. But they’re academic subspecialty surgeons who are quite literally saving lives daily by personally performing heart transplants. How the fuck do we think as a society that a smug ass CEO’s “effort” is worth 200x that?

Society is so backwards and fucked.

The mods might actually spend money to run bots and other moderation tools on their own servers. Might even pay reddit for api usage too for using those tools.

Whose fault is it though? I get that collective will is hard, but you as an individual have the power to move, organize, mobilize, whatever you want.

The company doesn't value you? Move. Why are you giving this company free labor?

For the "prestige" of being a ("anonymous") reddit mod? Give me a break. There's better things to do and be prouder of in life.

Stop giving this company time, money, and attention. And tell others to do the same. Otherwise, you're digging your own (and everyone else's) hole.

Yes, it's unfair, but it's an unfair system. So let's all do our part. And let's also organize and mobilize on that. Can't be done by continuing to feed it.

Why would anyone buy shares in a company that is not profitable, nor may never be profitable. Even they wrote that in the IPO. What would a buyer of shares be buying a share of?

For 193 million I would also let people write 'fuck u jeena' for two months.

Such a scam website - all the content is provided and moderated for free, the CEO steals anything resembling profit, the investors are all left with empty pockets. Fuck spez and anyone still using that site.

Reddit Users:

Mods are paid in power and the ability to push their opinions. If there are people willing to do it for free then they dont need to pay anyone.

Is it really a secret that Spez was getting paid a ton and the mods were working for free? I mean CEOs always get paid way too much, or else they wouldnt bother taking the CEO position.

Also, Im pretty sure all those reddit moderators were doing it for the feeling of power. I mean, why else would you have career mods running hundreds of subreddits while power tripping over everyone all the time?

Senior management people making 200k a year for all the work have to be the most cucked people on the planet. It is pathetic that we let every org get taken over by people less useful than a sponge, and we pay them hundreds of millions for the privelege. Even so called mutuals and co-operatives which are in theory owned by their own members still succumb to this embarassing plague. I don't know who among these losers first decides on behalf of everyone else we need to get a daddy dom and become pay pigs.

Reddit moderators sold their souls for garbage and deserve it. The super mods there serve capitalism for free and deserve all the shit that falls from it.

I advocated for forcing state representatives to stand and face a crowd of their voters in r/worldnews and was banned for inciting violence. It's literally the founding block of American Democracy that our government serves us and should be overthrown when it no longer serves the people, and people were responding positively to the message.

They banned me from the sub and escalated it to the Admins to get me temp site banned.

All because I said representatives should be forced to stand in front of the people they represent regularly.

I hope the CEO continues to grind them till they break.

Iirc some moderators are actually paid, not by reddit though. Like Indie Stone, the maker of Project Zomboid, pay for moderation team on reddit. But that's just a drop in the ocean.

I don't disagree with the sentiment here, the world is fucked and unchecked crony capitalism is the problem. The rich get richer and the rest of us barely get by. Also fuck Huffman for ruining the only social media platform I'd used consistently for over a decade.

That said, Huffman's salary is not even close to the number reported here. He makes something like $350k in a year (still a wildly high salary, no one person needs to make that much in a single year!), this "compensation" is closely tied to his equity in Reddit and it's predicted value when the company goes public.

Most CEOs are compensated in this way and I think it's not exactly a bad way to do it (partially for employees but mostly for investors). This value is tied to performance, so if the CEO does stupid shit and ruins the company, it directly affects his compensation. This can be a good thing if that CEO makes good business decisions, which can lead to more jobs and more stability for the workers. I realize this is not always the case, but that's the general idea.

It still sucks, and I still think no individual should make more money than is needed to live comfortably, but it's not like he's raking in 193 million every year like it seems from this tweet.

critical support to reddit for making reddit mods' lives worse

No wonder they're such assholes.

They could leave the platform, and watch it crumble and burn.

But “Reddit’s never been profitable” lol

Workers of the Internet! ...... moderate some more!