Reddit's CEO Says He Resigned Because He's 'Completely Worn Out' | ||
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Yishan Wong has given his side of the story as to why he left his position as CEO of Reddit, a job he has held since 2012. Writing on Quora, a company he's an advisor to, Wong explained that he left Reddit due to a host of personal reasons. (It's notable that he chose Quora over Reddit for his note — normally he writes corporate messages on Reddit.) "After two and a half years, I'm basically completely worn out," Wong said. "It was having significantly detrimental effects on my personal life." He went on to describe the job as "incredibly stressful and draining," saying "I probably pushed myself way too far." Y Combinator founder Sam Altman had stepped in as Reddit's interim CEO for eight days, before the company appointed Ellen Pao as the new CEO. Writing on his blog, Altman said that Wong had left Reddit due to a disagreement over the location of the company's new office. Wong had wanted to move the company to Daly City to avoid high San Francisco rent prices, but the board opposed him. But writing on Quora, Wong seemed to dispel the idea that the office issue was the reason for his resignation. "It's probably something we could have worked out," he said. Here's Wong's full Quora post about his resignation: All of the reasons that Sam has outlined in public are true. I know it sounds somewhat unbelieveable because it's so weird, but if it was made up, I think any PR person would have come up with a better made-up story. Join the conversation about this story » | ||
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Greece Is Finally Out Of Recession After 6 Horrible Years | ||
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After falling into recession as the 2008 financial crisis hit, Greece's economy has finally registered some growth. The economy expanded by 1.7% in Q3, compared to the same quarter last year. It's been a long, long haul, and after six years, one of the country's longest recessions in economic history. Eurostat just released figures showing the recession actually ended in the first quarter of this year (Greece does not usually publish quarterly GDP numbers), but the data is all new. It's no real cause for celebration: unemployment is still running at an eye-watering 26.6%, the economy is more than a quarter smaller than it was when the recession began, and there are no significant prospects for rapid growth on the horizon. In all likelihood, returning to pre-crisis GDP levels will take decades. But for the history of the euro crisis, which was so focused on the possibility that Greece would have to exit the currency union, this is a big milestone. Join the conversation about this story » | ||
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Inflation At 0.4% And Growth At 0.2% For Europe | ||
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Eurozone growth came in higher than expected, at 0.2% for Q3, and inflation came in at 0.4%, bang on what was expected by analysts. It's pretty close to a no-growth environment for both GDP and inflation. The figures are all incredibly low.
Here's how each of the three largest eurozone economies is doing: German GDP rose 0.1%, narrowly avoiding a technical recession. French GDP beat expectations, rising 0.3%, the fastest of the three (which says a lot). Italian GDP dropped another 0.1%, keeping the country in recession. According to the Guardian's Graeme Wearden, Italy has now had stagnant or falling GDP for 13 quarters. Join the conversation about this story » | ||
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