This is honestly a great question, but much more the answers that the community have given.
I read almost all the comments (took me like 1 hour). I've been working on a startup for 3 years, learning from the failures and success, I've read couple of books, talk to a lot of people about startups, etc, however something that always will surprise me is that the community is the one that really has the knowledge and savvy.
This is interesting, however I was wondering if it is a topic for HN?
"Off-Topic: Most stories about politics, or crime, or sports, unless they're evidence of some interesting new phenomenon. Videos of pratfalls or disasters, or cute animal pictures. If they'd cover it on TV news, it's probably off-topic."
A common topic (and an on-topic one at that) during the last olympics was the technological locking down of the media surrounding the event (e.g. NBC in the US). The interest in the IOC's corruption is probably connected to that.
> On-Topic: Anything that good hackers would find interesting. That includes more than hacking and startups. If you had to reduce it to a sentence, the answer might be: anything that gratifies one's intellectual curiosity.
This clearly applies to this, as votes have spoken.
I´ts interesting, however the idea of Reddit to allocate 10% of their shares back to the Reddit community for me it´s more than something "cool" as Sam Altman said, and beyond the "a new way to think about community ownership".
From another perspective, It´s just a good strategy to do your own IPO (go public) without the legal/bureaucratic way. It´s creating your own NY Stock Exchange with the idea to increase your value based on what your users are doing now (because it will be possible to buy, sell and trade between users).
So, beyond the message that it´s for “giving back to the community”, Is it more a clever strategy to increase the company value, and even more the stockholders value? or I´m incorrect?
I´ts interesting, however the idea of Reddit to allocate 10% of their shares back to the Reddit community for me it´s more than something "cool" as Sam Altman said, and beyond the "a new way to think about community ownership".
From another perspective, It´s just a good strategy to do your own IPO (go public) without the legal/bureaucratic way. It´s creating your own NY Stock Exchange with the idea to increase your value based on what your users are doing now (because it will be possible to buy, sell and trade between users).
So, beyond the message that it´s for “giving back to the community”, Is it more a clever strategy to increase the company value, and even more the stockholders value? or I´m incorrect?
Everything you said is totally true, which is why the SEC will block it. The most they could do is set aside 10% of the shares and let users proxy vote them, but I don't think that using them to back a cryptocurrency is going to fly with the SEC. I know a lot of people like Bitcoin because it's magical internet money with no rules, but financial markets are regulated for a reason.
I don't think the SEC would have a problem with the method (using a cryptocurrency) but rather the reason (using a cryptocurrency to avoid SEC IPO/ownership rules). If Reddit were public, I don't see a problem with using their stock to back a cryptocurrency. But it's a loophole big enough to drive a truck through, so the SEC needs to close it before the con men descend.
I read almost all the comments (took me like 1 hour). I've been working on a startup for 3 years, learning from the failures and success, I've read couple of books, talk to a lot of people about startups, etc, however something that always will surprise me is that the community is the one that really has the knowledge and savvy.
Happy to be part of this community!