Tech companies aren’t just businesses, they’re investments.

One of the weirder phenomena of the low interest rate era in tech was a tendency to see companies primarily as investments. The goal was not to have a functional business, but an exit, often via IPO or acquisition. I have begun to wonder if that explains what Reddit CEO Steve Huffman has been up to lately.

Umm…yeah.

  • LemmyLefty@lemmy.world
    20·
    1 year ago

    Remember, this is the guy who said this about his chances in the event of societal collapse:

    Huffman has calculated that, in the event of a disaster, he would seek out some form of community: “Being around other people is a good thing. I also have this somewhat egotistical view that I’m a pretty good leader. I will probably be in charge, or at least not a slave, when push comes to shove.”

    Source from The New Yorker.

      • Onii-Chan@kbin.social
        5·
        1 year ago

        Holy fuck, that’s a fantastic comparison. Re-reading that quote in Dwight’s voice fit far too well.

    • CIWS-30@kbin.social
      11·
      1 year ago

      Given how much of a douche he’s being (and only because he has organizational power, and not because he has people skills) in the event of a disaster, he’d probably be one of the ones to bite it first, or to be sent on an mission for expendables, to be honest.

      When you can’t just wave around money or org chart power to solve your problems, then people will start showing how they really feel about you. The way he’s running Reddit into the ground shows that he’s not a good leader, and the way he’s pissing everyone off right now by following in the footsteps of a huge failure (Musk) who’s also a jerk is just proving that he’s an idiot AND a douche that wouldn’t do well if society went awry.

    • mysoulishome@lemmy.world
      1·
      1 year ago

      Betting as a child his mommy told him every day “you’re so handsome and smart”! and when people picked on him he told them so.