this post was submitted on 13 Jun 2023
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I don’t know if I’d take his word at face value. This reads like he’s talking to potential investors, not Reddit’s user base. Of course he’d want to assure them that everything is okay and they should still give him money.
It's an internal message to employees of Reddit. As someone who's been in the corporate world for a long time, I've seen some variation of this message many times. Economic downturn, bad press, low sales, losing expected incoming cash... there are a lot of catalysts for this style of message.
Most messages we're seeing are from users, who want Reddit to crash and burn or just do what the masses want, or whatever. But, on the other side is a bunch of people who may be worried about how this whole thing will affect their livelihood. Even if Reddit stays up another 20 years and not everyone loses their job, what scale will it be? Will Reddit fire some amount of their workforce to make up for lost income? Will I be someone who gets fired?
These are the thoughts that this message is intended to address.
Got it, I didn't realize it was internal. Though they likely also knew it'd get leaked.
As for the workforce, I feel for them, though any business that is highly dependent on unpaid labor is something I personally wouldn't apply to.
In the corp world as well, and I can say with a lot of certainty that spez knew and likely hoped this would be leaked publicly. It was written both with the intention of assuaging current staff and angling their optics for the watching public. My company had a minor recent PR issue and our CEO drafted and sent something very similar.
At this point you know all memos will be leaked.
It's an internal message to employees of Reddit. As someone who's been in the corporate world for a long time, I've seen some variation of this message many times. Economic downturn, bad press, low sales, losing expected incoming cash... there are a lot of catalysts for this style of message.
Most messages we're seeing are from users, who want Reddit to crash and burn or just do what the masses want, or whatever. But, on the other side is a bunch of people who may be worried about how this whole thing will affect their livelihood. Even if Reddit stays up another 20 years and not everyone loses their job, what scale will it be? Will Reddit fire some amount of their workforce to make up for lost income? Will I be someone who gets fired?
These are the thoughts that this message is intended to address.