What were the details on that? (Sorry it’s not an easy story to find on Google given how much the keywords overlap with OpenAI topics)
In short, the plan was to reduce Condé Nast's ownership of Reddit by hiring a new CEO, and convincing that person to demand, as a condition for their hiring, that CN reduce their ownership share. Further VC funding and back-room machinations let them further reduce CN's share of the company, thus eventually wresting control over Reddit back to the original founders. Yishan was subsequently pushed out and Ellen Pao promoted to CEO, which didn't go so well either.
Both Altman and Pao are responding in that thread.
[1] https://www.reddit.com/r/AskReddit/comments/3cs78i/comment/c...
I'm not familiar with this, what happened? Googling "Sam Altman reddit reverse takeover" is just flooded with OpenAI results.
Sam didn’t forget anything. He is a brilliant Machiavellian operator. Just look at the Reddit reverse takeover as an example; Machiavelli would be in awe.
> What this really shows us is that this "for-profit wrapper around a non-profit" shenanigans was doomed to fail in the first place.
No. It shows this structure is doomed to fail if you have a genius schemer as a CEO, playing the long game to gain unrestricted control.