• 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.