Shu also tells me that RIF was paying a “sizable revenue share” to Reddit beginning in 2012, which was during Yishan Wong’s tenure as CEO. Shu says he says initiated the talks with Reddit to create the agreement, which allowed for the licensed use of Reddit’s trademarks. (At the time, the app was called “reddit is fun.”) Shu says Reddit terminated the agreement in 2016 — which was the year after Huffman took over as CEO.
It’s a shame that Reddit’s greed has even prevented them from considering reasonable options like revenue sharing.
It is absolutely without justification. The language of the HEROES Act allows the Secretary of Education to “waive or modify any statutory or regulatory provision applicable to the student financial aid programs under title IV of the Higher Education Act of 1965.” This is not a loophole, it is the law, passed by Congress. And regardless of any foreseen impact on the economy, SCOTUS should not legislate. Otherwise, they’re just an activist court.