By TIME Video
Reddit CEO Yishan Wong told the Reddit community this week he wants to give them 10% of the company’s shares. Such a move has never been carried out by a company that depends on user engagement, like Facebook or Twitter.
Wong cautioned that the plan is still in its early stages and added a caveat to his post on Reddit: “KEEP IN MIND THAT THIS PLAN COULD TOTALLY FAIL.”
Wong also said that the idea of “distributing ownership of [Reddit] back to the community” has been a long-held dream by Wong and many of the company’s other employees.
More Must-Reads from TIME
- L.A. Fires Show Reality of 1.5°C of Warming
- Home Losses From L.A. Fires Hasten ‘An Uninsurable Future’
- The Women Refusing to Participate in Trump’s Economy
- Bad Bunny On Heartbreak and New Album
- How to Dress Warmly for Cold Weather
- We’re Lucky to Have Been Alive in the Age of David Lynch
- The Motivational Trick That Makes You Exercise Harder
- Column: No One Won The War in Gaza
Contact us at letters@time.com