Conde Nast’s Hands-Off Management Vexes Reddit

Businessweek: In 2006, Conde Nast bought a promising online-discussion startup called Reddit. At the time, social media was just taking off and big media conglomerates were scrambling for a piece of the action. The site worked out of the same offices in San Francisco as another Conde title, Wired. Today, after much executive turnover and countless incidents of questionable Redditor behavior, Conde Nast would prefer you not think of Reddit as theirs. Such disavowals tend to take place under dramatic circumstances. Or, in this case, after a nine-year case study in the hazards of absentee management.