• NotSpez@lemm.ee
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    8 months ago

    To be fair (and you can probably see by my username I don’t like reddit anymore), I think it makes perfect sense to dispose of a fair portion of your shares in this situation. Firstly, these asshats get paid part of their salary in shares, it’s natural to want to get more security on part of your income. Secondly, with how hard the price rose in the first couple of days, it makes sense. But people are welcome to disagree, of course.

    • msage@programming.dev
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      8 months ago

      How does that respond to the original idea, that is:

      if they believed in the company, they would hold their stock.

      You are not a genius for selling your company’s stock after IPO, you are a grifter. Doesn’t matter how many voting shares they have, doesn’t matter how much more money they need - they do get paid in cash too, and they can borrow against the stock.

      So they sold out. Fuck them both for that.

      • octopus_ink@lemmy.ml
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        8 months ago

        if they believed in the company, they would hold their stock.

        The COO holds 1.4 million now, so she dumped 25% of her shares

        • msage@programming.dev
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          8 months ago

          Selling quarter of your stock AT THE FUCKING IPO is a shame. I can’t believe people are defending that.

          And I suspect they can’t sell the rest as easily as the A shares.

            • msage@programming.dev
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              8 months ago

              And how does that go against the “they don’t have faith in their business” argument?

              • dmrzl@programming.dev
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                8 months ago

                Imagine talking about faith in that situation. If you really think faith is a good base for financial decisions you better keep far away from the stock market.

          • octopus_ink@lemmy.ml
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            8 months ago

            I have nothing I’m willing to defend about Reddit management, I love the idea that they will end up penniless one day (though I’m sure that will not happen.)

            I just don’t think selling off 25% of one’s shares (necessarily) means what has been suggested.

              • howrar@lemmy.ca
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                8 months ago

                Selling everything = I have no faith

                Keeping everything when these shares represent almost your entire net worth = I know with 100% certainty that this business will grow

                Selling off 25% = I believe in the company, but I also acknowledge that there are many variables outside of my control that can affect the success of this company and I don’t want those to have huge negative repercussions on my life.