Netflix is continuing its surge in the stock market, with another rise following the second quarter financial report. Even though nothing major was revealed by the management, it is another solid performance from the company.
New reports on the Nokia Here Maps sale point to a bit of a predicament, concerning the lack of interest post-first bids and German car manufacturers not wanting to spend all that much.
When something wrong happens at a company, it is easy to hound the chief executive; the one making the final decisions. The problem with attacking the CEO is sometimes the Chairman and board hold more authority, especially when it is an interim CEO.
Satoru Iwata died last weekend after losing a battle against cancer at the age of 55. The CEO of Nintendo has been one of the most friendly faces in the industry, known for being dedicated to creating fun experiences for gamers all around the world.
Comcast has kept quiet since the failed merger of Time Warner Cable, but has reappeared from the shadows with a new TV streaming service called Stream.
Last week, we reported on a petition to remove Ellen Pao as interim CEO of Reddit, and it looks like the petition alongside the massive outbreak on “the front page of the Internet” has pushed Pao out of the hot seat.
The UK government has been spying on one of the world’s largest human rights groups, Amnesty International. It was revealed 10 days after the original Investigatory Powers Tribunal (IPT) that the GCHQ has been spying on the organisation, after the IPT got the name of the organisation mixed up.
Reddit is in a full scale meltdown, after firing /u/chooter (Victoria) from her position as Head of Talent. Victoria was one of the main figures for Reddit working on AMA threads, being able to verify independently identities and make sure no payment was made between Reddit and the celebrity/popular figure for additional coverage.
The move made /r/iAmA, /r/AskReddit and over 200 other subreddits close in protest of the decision. Alexis Ohanian, the co-founder of Reddit, claimed the move was made to add a new Reddit verification team, although iAmA claims this is not a neutral party and will use their own verification system for AMA requests from now on.
This was already bad enough, coinciding with the growing appeals for Reddit admins to work with moderators of forums more heavily and be more transparent, but a new post was released revealing CEO Ellen Pao firing a worker who was covering from cancer.
The ex-Reddit employee, going under the name Dacvak, claims that Reddit allowed him time off work for over three years, after being diagnosed with leukemia and following up with cancer treatment. It was not until Yishan Wong, the ex-CEO of Reddit, left the company that Dacvak had issues continuing his job.
He expressed a desire to return as Community Manager in San Francisco in January 2015, but before he could return to the company, Pao fired him. She claimed that Dacvak was too ill to return to Reddit, despite Dacvak pleading with Pao that he was fit and ready to return, even getting his doctor to forward results.
It is another dark slap on Pao’s growing record, following the defeat against Kleiner Perkins, a venture capital firm, over sexual discrimination charges. Many on Reddit have expressed deep mistrust with Pao, going as far as to start a petition to remove her from Reddit.
The petition has reached 22,000 signatures, with 35,000 set as the first goal. This is one of the largest outbursts of anger from a community against a CEO, and considering Reddit does rely on its users quite a lot, it means a decision may have to be made in the next few weeks.
Several ex-admins claim Pao has changed the culture in Reddit from a start-up to corporate, with changes in management from engineers to business focused personeel. These changes in management are looking at short term gains, by generating cash flow for Reddit be a profitable business, although that goes against all the fundamentals of Reddit.
Like any social business, Reddit requires the trust and love of users to continue to return and actively invest in the site. It may need a full clean of house to regain this trust, with plenty of users claiming this is the end for Reddit—slowly going down the Digg route of failure.