REDDIT, REDDIT AND REDDIT

Reddit

Reddit

Reddit, Reddit, Reddit – that is what dominated my social network timeline last week. Reddit – The Front Page of the Internet was now suddently the front page of social media networks and cable/TV news around the world. It all started when Victorial Taylor one of the editors was let go from Reddit, a San Francisco-based online community site. Users revolted when they heard about Taylor. An upshot of this uprising resulted in parts of Reddit being shut down. About 300 individual discussion areas of Reddit were shut down according to a report in The New York Times.

The shutdown of this popular online community site was just the tip of the iceberg. It culminated in Ellen Pao, the interim CEO  stepping down from her post. Pao became the interim CEO when the previous CEO Yishan Wong resigned in November 2014.  Steve Huffman one of the co-founders is back as CEO of the beleagured company. You can read more about it here and here.

In 2014 Reddit raised $50 million in a new round of funding. All eyes are on Huffman to see how and in which direction he is going to steer this ship that just celebrated its 10th anniversary.

The Verdict Is In For Ellen Pao Vs. Kleiner Perkins

The verdict is in for the high profile legal case between Ellen Pao vs. Kleiner Caufield Perkins and Byers (KCPB), the famous Silicon Valley venture capital firm. Pao lost the historic gender discrimination case against KCPB that was keenly followed by folks in Silicon Valley and around the world.

Pao was a partner at Kleiner Perkins. She sued the VC firm for $16 million in lost wages because of her gender. Pao lost the case on all 4 counts against the VC firm. The jury did not find that Pao was discriminated on the basis of gender.

Right after the verdict was announced Pao made a brief statement:

If I’ve helped to level the playing field for women and minorities in venture capital, then the battle was worth it,” Pao said. “Now it’s time for me to get back to my career, my family and my friends.

What message does this verdict send to people, especially women? Sue Decker, former CEO of Yahoo wrote this about the verdict in Re/Code and said,

Regardless of how the verdict comes out, I think it will have the impact of a wake-up call for all of us fish. For a moment over the last month, we jumped out of our water and thought very critically about the environment within which we swim. More and more women and men are starting to “lean in” and take responsibility for changing the waters.

This is what the Los Angeles Times wrote in its editorial piece earlier this afternoon:

But despite the firm’s victory in Pao’s lawsuit, the testimony about it may persuade more women to steer clear of the venture capital fraternity. 

You can read more about the verdict here, here and here.