> I don't think he is that inapt, and that his board is stupid to let him in charge despite such a failure, profitability was just never the goal.
Just fyi, reddit rose around the same time as Facebook so it’s likely they share a similar governance model, where founders control an outsized part of the board/voting shares. Since Uber and wework semi-imploded investors are less forgiving of that sort of thing but legacy companies like Reddit likely still are run that way.
Spez sold his shares in 2006 before joining back as a CEO in 2015. He probably has equity as the CEO, but not as many as a regular founder and as such he should have much less power and control over the company than Zuck.
Just fyi, reddit rose around the same time as Facebook so it’s likely they share a similar governance model, where founders control an outsized part of the board/voting shares. Since Uber and wework semi-imploded investors are less forgiving of that sort of thing but legacy companies like Reddit likely still are run that way.