This post tightly fits what I want to see in this community. Anti-corporate sentiment and “good news” for non corporate entities.
I just can’t imagine how anyone at Reddit thought that this would work out. It really has to be a pump and dump or spez doing a “I got mine” thing.
Someone mentioned he was told to sell some of his stock so he doesnt go home empty if anything bad happend but honestly, I dont believe a word of what he says.
It’s a bad look no matter how you view it. It shows a lack of confidence. For me, if you want me to trust you, I need to think that you’re all in and going down with the ship.
P.S. Think this is my first time seeing this sub. Just joined.
When buying Bitcoin during one of its pump and dumps is more predictable and profitable that your IPO. I don’t mean this as a positive for Bitcoin but as a way to showcase how bad of an investment Reddit was to begin with.
Makes perfect sense! Thanks for contributing.
Someone recently mentioned that IPOs nowadays are just a scam. I tend to believe them. Just the banks and the buddies filling up their pockets. I‘m sad that stuff doesnt work like in the movie the wolf of wallstreet. Just get them on collusion and jail em.
I do think that IPOs initially did what they say: gather money and allow a company to start up properly. Over the past 20 years, though, the system has been completely gamified and now it’s just a way for people to legally pump and dump, with only a few companies actually making something useful among all the mess.
Reddit official website and app are slow, click took 1-2 sec to load. Scrolling to the end it pause like 5 second to load more content. I don’t know why, it feel like they do it on purpose.
When I use 3rd UI back then, thing was blazing fast, whether it is on chrome PC or on my old android phone.
Probably to slow down scrapers who collect data.
I think it is too keep the ads on your screen a bit longer before you scroll pass it.
Frankly, surprised it was only that much of a drop.
Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Hoffman sold 500,000 shares, and Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares.
No, not a pump and dump at all! Totally confident in our ability to execute our fiduciary duties!
I bet they spelled his last name wrong on purpose
Fuck you spez
Correct me if I’m wrong, but redditors who were given the option to buy before the IPO are still in a blackout period, right?
Its entire business mode and potential to make profit one day l is 100% dependent on the endless free labour of power hungry, borderline sociopathic, scab mods who used the IPO protest to consolidate their influence and stab all the other mods in the back.
Unless reddit is banking on major AI breakthroughs to replace them, it was always a wild valuation.
