This post tightly fits what I want to see in this community. Anti-corporate sentiment and “good news” for non corporate entities.

  • CyberSeeker@discuss.tchncs.de
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    9 months ago

    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!

      • Vigilante@lemmy.today
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        9 months ago

        Yeah i was wondering about that then i thought i may be wrong as i only say “fuck you spez” but i guess i’m not wrong.

    • Gladaed@feddit.de
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      9 months ago

      If you are not emitting shares to raise money there is very little upside to going public except for your owners to be able to sell their shares.

    • paraphrand@lemmy.world
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      9 months ago

      Spaz said his friends advised him to sell at least some, otherwise it would’ve drove him crazy.

    • haui@lemmy.giftedmc.comOPM
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      9 months ago

      Omg! I havent seen this! Its so ironic. These people get bolder and bolder. In case anyone wonders why this community exists! 😂

      • lud@lemm.ee
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        9 months ago

        Omg! I havent seen this!

        It’s in the article you linked…

        • haui@lemmy.giftedmc.comOPM
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          9 months ago

          I know. I obviously havent read it slowly enough to catch that. Thanks for pointing it out.

  • undergroundoverground@lemmy.world
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    9 months ago

    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.

  • themeatbridge@lemmy.world
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    9 months ago

    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?

    • haui@lemmy.giftedmc.comOPM
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      9 months ago

      I have no clue whatsoever, sorry. Someone else might know more but I‘m not sure if they will admit to buying reddit stock anyway. Might be easier to find an answer on reddit, as much as it pains me to say.

  • stoly@lemmy.world
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    9 months ago

    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.

    • haui@lemmy.giftedmc.comOPM
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      9 months ago

      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.

      • stoly@lemmy.world
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        9 months ago

        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.

        • haui@lemmy.giftedmc.comOPM
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          9 months ago

          I agree completely. :)

          Thanks mate! This sub exists since 12h roughly and people are subscribing a lot. I’m very happy that people seem to resonate with the idea and vibe. Please feel free to make your own post or crosspost! Great to have you.

  • hahattpro@lemmy.world
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    9 months ago

    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.

  • Jo Miran@lemmy.ml
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    9 months ago

    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.

    • haui@lemmy.giftedmc.comOPM
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      9 months ago

      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.

    • Bipta@kbin.social
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      9 months ago

      Comparing a pump and dump to literally the best performing asset of all time maybe doesn’t make the strongest point about how weak the other is…

      • stoly@lemmy.world
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        9 months ago

        Wait, do you really believe that BitCoin isn’t just going to crash down one day and lose trillions around the world? It’s a bubble, it WILL collapse but we don’t know when.