Reddit
blog.samaltman.com
1–10 of 433 posts
Re: Reddit
#2Sorry if this is obvious but how does this work if Conde Nast/Advanced Publications is the primary shareholder?
Re: Reddit
#3Does anyone know of any precedent for granting equity to a community site's users? I'm curious to see what sort of dynamic this creates in the site.
Re: Reddit
#4"It’s always bothered me that users create so much of the value of sites like reddit but don’t own any of it. So, the Series B Investors are giving 10% of our shares in this round to the people in the reddit community, and I hope we increase community ownership over time. We have some creative thoughts about the mechanics of this, but it’ll take us awhile to sort through all the issues. If it works as we hope, it’s going to be really cool and hopefully a new way to think about community ownership."
This is awesome. Curious to see how this plays out. What's the approximate timing for announcing if reddit is able to do this or not?
Re: Reddit
#5The one downside (as I see it) of Reddit that Facebook, G+, and HN all don't have is the ability to downvote. Downvoting makes it so larger subreddits will only have material on their front page that the majority of that group agrees with. This leads to certain subreddits (like /r/politics/) being heavily dominated by one side of the subject area.
But I still use reddit daily myself. Getting off some of the default subreddits and subscribing to ones focused on a specific topic (a video game, programming language, city, etc...) has replaced specialized/focused forums for me. It's definitely a great communication platform.
Re: Reddit
#6"It’s always bothered me that users create so much of the value of sites like reddit but don’t own any of it. So, the Series B Investors are giving 10% of our shares in this round to the people in the reddit community, and I hope we increase community ownership over time. We have some creative thoughts about the mechanics of this, but it’ll take us awhile to sort through all the issues. If it works as we hope, it’s g…
I hope this works out - nice move Sam. This and ceding voting control. Setting the benchmark by which others will be measured.
Re: Reddit
#7I like Reddit. I recently obtained a data dump of every single submission and comment so I could perform interesting data analysis and may just determine what make a post on Reddit viral.
The problem I have with Reddit is that I'm still unsure if it's a positive externality. There's a lot of good aspects of Reddit (discovery, community), but there's so much bad about Reddit that it's impossible to overlook it (abusive subreddits, abusive users, no administrator transparency, etc.)
There's free speech, and then there's the ethics of promoting and profiting off of abusive/illegal content.
My dream startup would be a Reddit-esque link aggregator, which favors the actual quality of submissions, instead of submissions which are lowest-common-denominator which are optimized for the hive mind.
Re: Reddit
#8"...are giving 10% of our shares in this round to the people in the reddit community..."
How's that supposed to work? Reddit (the company) will own the shares? Some foundation? A bit more detail would be nice.
Re: Reddit
#9Exciting news. One thing I sincerely hope reddit will do with the new injection is to increase the level of quality of content and discussion across the board. Often the advice given is "you've got to find the smaller subreddits" and while that's true, I think having the first few layers filled with terrible content and hive-minded, often racist/sexist discussion is incredibly detrimental to both the site's image and new user experiences.
I know there's great content there, and great people having great discussions, but it's not terribly easy to find. I'm thoroughly convinced that reddit could be an incredibly valuable source of reliable news, discussion, and entertainment, but the way it's structured highlights its more juvenile aspects.
And if it can find a way to establish legitimacy, it'll be worth far more than it is today.
Re: Reddit
#10The one downside (as I see it) of Reddit that Facebook, G+, and HN all don't have is the ability to downvote. Downvoting makes it so larger subreddits will only have material on their front page that the majority of that group agrees with. This leads to certain subreddits (like /r/politics/) being heavily dominated by one side of the subject area. But I still use reddit daily myself. Getting off some of the default s…
HN has downvoting. I was able to downvote you, and your comment went lower on the page and turned grey. HN also has excellent moderation.