• Screwthehole@lemmy.world
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    1 year ago

    Someone always benefits when public companies go bankrupt or lose value, so yes.

    Honestly, the part I don’t get? That they didn’t wait to start self sabotaging the business after the insiders had been able to offload their positions in an IPO.

    Like, the usual way to do this would have been:

    IPO at status quo Redditors buy shares Insiders sell shares and open shorts Reddit begins to implode itself Redditors hold bags, insiders laugh from their yachts

    Who, at this point, is going to buy into reddit’s IPO?

    • Varyk@sh.itjust.works
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      1 year ago

      Oh right, that is definitely how they should have done it.

      This is exactly what I mean, this route of self-destruction makes zero sense.

    • kingthrillgore@kbin.social
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      1 year ago

      It wouldn’t surprise me if the investors behind the scenes aren’t already interviewing spez’s ouster without his knowledge.