IPO = exit liquidity
Should have picked Harassment. Selecting Spam does nothing.
I’d pick prohibited transaction. I live in AU. NYSE won’t let me trade there.
Either that or “hate” - all redditors can get involved, but not you because you are not from the US. Sounds like communism.
‘Sounds like communism’
Show me people who don’t know what communism, Alex
You can trade on the New York Stock Exchange in Australia. I trade foreign stock exchanges all the time.
It’s a bit more complicated… you trade through a broker with trading rights on that exchange. Unless you are a power user on a bloomberg terminal.
Reddit could direct sell shares to a US resident, I’m pretty sure, as a first party sale.
Why would you want to do that. Unless you are trading massive amounts of money, it’s more practical to just use an online broker.
That’s exactly how people in the US trade also!
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Spez truly got that little dick energy going on
I take offense to this. I have a little dick. I don’t destroy everything for everyone around me while shitting myself violently. I say he has Caillou energy. Arrogant, narcissistic, hideous, an abject freak, a mistake granted legs and will hopefully suffer from a terminal illness.
Fuck Caillou. Fuck Steve Greedy Pig Boy Spez Huffman
The more I see you post, the more I like you.
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Now you get to tell us what you think that word means.
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small pp energy here
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It’s really just body shaming, no?
This doesn’t apply to sayings. If it does, saying someone has a big head for acting proud is also body shaming. That’s dumb.
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I think misandric is more apt of a description
This reeks of small tits energy.
That’s an insult little dick energy
They lost 93 million on 2023, and paid the CEO more than double that.
Nope - can’t think of a single thing they could do to make reddit profitable.
Well kinda but not really, he owns around 4% of Reddit which is where the $193m comes from because of the $5b valuation.
Still, fuck spez
They paid him just shy of 400k. The stock and options he was given have nothing to do with reported losses. It’s all monopoly money until IPO, them we’ll see what it’s worth.
Paying yourself 190 million in stock options when the company is running at a loss is pretty much blatantly admitting that the company is severely overvalued. My guess is that it will tank 90% once it goes public. If not more, Reddit produces nothing inherent of value and they are really hostile to their users.
Honestly, I’m kinda looking forward to the IPO - because it might be the last enshittification straw that breaks the camel’s neck that will finally drown reddit for what it has become.
He wasn’t paid that amount. He got 341,000 in cash and the rest was in stocks and options (which will only be worth that much if the company performs well financially). This us place is just like Reddit, nobody ever reads the article.
It doesn’t really need to perform well financially. He can sell everything as soon as it goes public and retire
But they never do that. Musk could have been supping margaritas on a man made island with oompa loompas in a private ocean a long time ago
Oompa-loompas are extinct. He needs enough money to clone them from mosquitos trapped in amber.
He will still be in control of that wealth. It really shouldn’t be treated different from salary compensation
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Still not how that works, if he wants cash he has to sell, selling stocks is heavily taxed. Now he can take a loan against the stocks but if they don’t do well then he’s not going to get much for them. It’s a risk and taxes is paid like it or not.
Still a shit system, but that’s a different discussion, but they pay taxes.
The interest rate on taking loans against assets is usually less than paying the taxes for selling the same assets
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It’s taxed as income when you receive it. If you hold onto it for over a year then sell it you pay capital gains (which are lower) on the difference between the grant price and current price (if it went up).
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If they sell after holding it for more than a year, if they short term sell the stock under a year it’s a normal income tax on said stock.
Unable to delete so editing instead. Leaving Lemmy.world due to privacy concerns.
I’m not disagreeing with you, I think it’s a shit system as well, I’m just pointing out what a lot of people seem to think is 0 taxes on stocks.
They can take out loans with the stocks as collateral. The money received from loans isn’t taxable.
That still requires you to make sure the stock are worth something, and you have to pay interest on that loan.
I think people are thinking I’m defending the system, I’m not, I’m just pointing out how it works.
This place is also just like reddit in that comments like yours seeking to seem smarter than everyone else by pointing out technicalities in the article as evidence everyone has the wrong idea, without appreciating the full context, and deliberately ignoring the overall point.
Executives paid in stocks and options are completely normal, and those stock options have a value. Moreover, those things were not given to other employees nearly as much as they were given to the CEO.
The actual dollar amount he receives from Reddit is not what matters. What matters is the amount of compensation given to him in comparison to everyone else at Reddit and to other CEOs at other companies, especially when taking his performance into account.
The point is Reddit is effectively giving way too much of its value to one person who has done little to actually make it profitable in all the time he’s been there while routinely making mistakes and allowing scandals that have hurt Reddit’s reputation.
The context is important since it informs us about why he’s doing this, which is probably to further inflate his stock value
But also Tim Cook’s total compensation for 2022 was $99 million and Satya Nadella’s 2023 was $48 million. Paying him more than CEOs of actually profitable companies and what amounts to nearly 1/4 of revenue is a pretty big outlier.
Steve Jobs was wealthy despite having a salary of $1 per year.
Arw you suggesting that reddit shares are going to be worth a lot of money? I see a an 18 year old company that still can’t turn a profit, so I don’t exactly see how the IPO can be a success.
So why does your CEO get paid quarter of a billion a year if they had to hike their APIs unreasonably and kill all 3rd party apps because “reddit wasn’t profitable” despite not paying a dime to the mods running their website niether to contribitors, posters nor users ?!?! Reddit is scummier than Uber
While cutting off reddit apps that are better than the bloated shitshow that is the reddit app
Most of that money is in stock, so he’s doing this to further inflate his stock value
So my 16 year account with 90k legit comment karma wasnt good enough to be invited?
Now I dont get to early participate in the fomo panic IPO being forced by investors?
I could’ve made or lost tens of dollars.
I’m at 10 year with about 500k combined. They sent me one. I laughed. Made me feel about as special as being given a pizza Friday at a job I’d been working for just as long. Actually, I would have been happier with the pizza.
that’s so weird because I got an email inviting me to participate and I haven’t ever been considered a ‘prolific poster’. I’m only at 60k and 12 years. I had no clue I was invited until I looked in my spam folder.
What’s next? Reddit Coin? NFTs?
Doesn’t reddit already have NFTs?
They also do have a reddit vault for crypto
That’s already there since a couple of years.
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Maybe Shoes…
Should have marked self harm/suicide
The loss porn will be great material for WallsStreetBets
This is such an amazing grift. I can’t wait until more social media firms start trying to direct-market their stock to their user base.
No way this can backfire
And watch as being a shareholder confers no tangible benefits for owning stock in the website of which you are a user, or worse, you get benefits, but they are limited to how much stock you have.
That’s how stock normally works.
That little “tldr” at the beginning of that text wall makes me feel gross
