Technology
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
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This is why the fediverse is so great. It really is really expensive to run a social media company. By spreading the cost over many actors and encouraging competition, this allows us to host content without being beholden to billionares.
*Chinese billionaires
Are you trying to bring your Reddit = Chinese government xenophobic r/conspiracy Reddit nonsense here? Would you like to provide proof? Because this is violating a rule.
I think he's referring to how Reddit used to operate on Tencent funding. Tencent is partially owned by the Chinese government.
5% stake is not relevant if you looked at other shareholders of Reddit. It is a xenophobic conspiracy theory if we looked at the largest shareholders of Reddit (https://web.archive.org/web/20230108005443/https://www.investmentwatchblog.com/who-owns-reddit-a-breakdown-of-the-type-and-nationality-of-shareholders/):
Breakdown of Series A VC, Condé Nast: https://www.nytimes.com/2012/09/03/business/media/reddit-thrives-after-advance-publications-let-it-sink-or-swim.html
Breakdown of Series B VCs being all Americans: https://www.crunchbase.com/funding_round/reddit-series-b--662ba273
Breakdown of Series C VCs being 8 Americans and 1 Dubai VC: https://www.crunchbase.com/funding_round/reddit-series-c--168f04d0
Breakdown of Series D VCs with 3 American VCs and China's Tencent: https://www.crunchbase.com/funding_round/reddit-series-d--c9282e50
Condé Nast and one American VC hold more shares than Tencent, plus Reddit is astroturfed by US military, as seen during 2015. https://old.reddit.com/r/Blackout2015/comments/4ylml3/reddit_has_removed_their_blog_post_identifying/ Reddit, if anything, is a literal US military arm to spread propaganda in media, and not controlled by Chinese government.
The root of "Tencent CCP own Reddit" conspiracy literally lies in r/conspiracy to spread xenophobic sentiments against China. Anyone perpetuating this nonsense will face a ban after this.