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this post was submitted on 29 Mar 2024
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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.
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.
What would you agree means that they don't have faith in their business?
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.
And how does that go against the "they don't have faith in their business" argument?
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.