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SoylentNews
Bleh. Apparently not caring what you do on other sites or even requiring any personal information isn't good enough for the state of Confusion^WCalifornia, so we have a shiny, new, temporary Privacy Policy posted on every page and linked at the top of the nav bar.
If you feel like prettying the language, layout, or whatever up before I get around to it, feel free to do so and submit a pull request.
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Meta: Conspicuous Privacy Policy
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Hacking's just another word for nothing left to kludge.
(Score: 1, Informative) by Anonymous Coward on Monday February 24 2020, @02:53AM (2 children)
This isn't directly relevant to your question but SoylentNews is NOT legally a non-profit. Absolutely false. They are registered in Delaware as a public benefit corporation. A PBC can make a profit. However, the board of directors is under no legal obligation to prioritize shareholder profits above all else. SoylentNews may choose not to turn a profit at this time, but that is absolutely NOT the same as a non-profit.
(Score: 2) by The Mighty Buzzard on Monday February 24 2020, @01:29PM (1 child)
This is true. To date there's been no functional difference though. Our two shareholders still refuse to let us even pay them back (buy back the stock), much less start paying dividends or anything like that.
I'm really not sure why we went the stock route instead of having debt on the books. Apparently there's some accounting/taxes reasons it's better.
My rights don't end where your fear begins.
(Score: 2) by martyb on Friday March 06 2020, @12:00AM
My recollection is a bit hazy, but my understanding is that we needed an initial "stake" to get the site up-and-running. Having benevolent shareholders (who also happen to be our current board of directors) was a means to an end. It also afforded us a means to control our own destiny insomuch as we are not financially beholden to some outside entity.
As for paying the shareholders back, I have recently been made aware that what I thought had been an operating surplus (subscriptions less expenses) has actually been an operating loss the past couple of years. A story is currently scheduled to go out tomorrow morning which will provide more information and provide documentation as to our current financial state.
--martyb
Wit is intellect, dancing.