When Reddit CEO Yishan Wong announced that the crowd-sourced news site had raised $50 million, he called his financiers "patient, long-term investors who support our views on difficult issues." But less than two months later that patience seems to have run out and over a suspiciously simple dispute.
If female celebrities break into a cold sweat over Reddit users, just image how investors feel after throwing down $50 million in the hopes of profiting off the crowd-sourced site. But lead investor Sam Altman and CEO Yishan Wong appear to have come up with a plan to appease "the often volatile Reddit community."
Ever since Paul Graham stepped down from Y Combinator, the Stanford of startup accelerators has been trying to give off a more welcoming vibe. The attempts thus far have seemed awkward, half-hearted, and therefore insincere. As though Sam Altman got PR advice on crisis control from a YC bro-founder: Just tell 'em what they want to hear.
Industry obsessives talk about Product Hunt—a leaderboard that lets members vote on new apps, devices, and other assorted technologies—with a sense of gratefulness. Venture capitalists use its hand-picked daily list to find a diamond in the deluge. Founders use Product Hunt as an alternative launching pad: TechCrunch without the noise; Hacker News without the hate.