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[–] Le_Squish 0 points 40 points (+40|-0) ago 

In case the link is misbehaving for some, yishan comments:

Here's one.

In 2006, reddit was sold to Conde Nast. It was soon obvious to many that the sale had been premature, the site was unmanaged and under-resourced under the old-media giant who simply didn't understand it and could never realize its full potential, so the founders and their allies in Y-Combinator (where reddit had been born) hatched an audacious plan to re-extract reddit from the clutches of the 100-year-old media conglomerate.

Together with Sam Altman, they recruited a young up-and-coming technology manager with social media credentials. Alexis, who was on the interview panel for the new reddit CEO, would reject all other candidates except this one. The manager was to insist as a condition of taking the job that Conde Nast would have to give up significant ownership of the company, first to employees by justifying the need for equity to be able to hire top talent, bringing in Silicon Valley insiders to help run the company. After continuing to grow the company, he would then further dilute Conde Nast's ownership by raising money from a syndicate of Silicon Valley investors led by Sam Altman, now the President of Y-Combinator itself, who in the process would take a seat on the board.

Once this was done, he and his team would manufacture a series of otherwise-improbable leadership crises, forcing the new board to scramble to find a new CEO, allowing Altman to use his position on the board to advocate for the re-introduction of the old founders, installing them on the board and as CEO, thus returning the company to their control and relegating Conde Nast to a position as minority shareholder.

JUST KIDDING. There's no way that could happen.

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[–] Aradiel 0 points 12 points (+12|-0) ago 

That's for the copy/paste - I want to be in the loop, but refuse to give reddit traffic, so for the majority of these developments I am unable to actually see them unless someone copies/archives it for me.

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[–] codyave 0 points 1 points (+1|-0) ago  (edited ago)

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[–] devils_anchovies 0 points 0 points (+0|-0) ago 

he linked to the archive site, which does not give Reddit any traffic.

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[–] Rommel79 0 points 5 points (+5|-0) ago 

Couldn't Conde Nast potentially sue the hell out of Reddit for this?

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[–] Thisismyvoatusername 0 points 1 points (+1|-0) ago 

If you really thought you could prove by a preponderance of the evidence that this was an intentional scheme, then yeah, there are various potential claims you could assert against Altman and Ohanian. But such claims would be exceedingly difficult to prove. Chances are unless you really had smoking gun evidence of collusion and breach of duties (both the general business duty of fair dealing and specific fiduciary duties (duty of care and duty of loyalty seem most at issue) as board members and/or execs) it would not be worth the cost of suing.

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[–] Nobodyimportant 0 points 0 points (+0|-0) ago 

Questions of that nature are posted in the thread. Yishan addresses them.

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[–] Le_Squish 0 points 0 points (+0|-0) ago 

I think so, but I don't really know much about lawsuits and defrauded share holders.

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[–] 1F4A9 0 points 0 points (+0|-0) ago 

Maybe he's angry about something other than Pao getting thrown in front of the wolves, and that something was the reason he left Reddit. Or did he just leave because he knew this would otherwise have happened to him?

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[–] Le_Squish 0 points 0 points (+0|-0) ago 

Pao was picked because she really is a villain. She is very much a classic narcissist. Pao could be trusted to go with her ego and ignore common sense. She really was the perfect scape goat.