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I’m sure Steve Huffman is worried that redditors are shorting the stock as it went from $34 to $59.80 since IPO.
A rough estimate is Huffman just made at least $102M from the IPO ($136M existing stock plus $193M in options and RSUs, at plus 75% increase in value) taking his net worth to at least $575M.
He gets a $20M bonus if the stock doesn’t tank by 50% for two weeks too.
Realistically he got his shares at a much much lower price so his gains are massively outsized.
IPOs are a scam, they lower the price for banks arbitrarily then claim it as a success when the numbers pop at launch, which is clearly a market failure where the insiders get first pick and ability to cash out. The SEC should jail any bankers who work on an IPO that increases by 30% on launch day for fraud and collusion.
The justice system has been disabled for these people. we are ruled by people of the dark triad. Pretty much every person of the 1% lacks compassion and remorse, is manipulative and often impulsive. Think about the fact that you have more money than you can ever spend, yet you accept that people around you are homeless.
These people keep winning and get worshipped like gods so others follow their lead and the world drops into an infinite „fuck you, I got mine“ loop, resulting already in destroying our ecosystem and climate.
We need to get these people out of power. Long term by educating the masses and short term by sabotaging them as much as we can.
Money allows you to disconnect from painful experiences. Allows you to tailor your world to be whatever you want. Whatever you cant do, you use your wealth to block or drown out of your memory. Its self delusion.
I've always wondered why they never see that not doing a thing would be better for them in the medium to long term.
I know. I made quite a lot of money due to some luck and special abilities. I met some millionaires.
They’re ignorant and indifferent to the pain of others at best and they will ruin you if you cross them at worst.
I only really know that its the situation/mindset of self delusion (minus the narcissism) I have spent years trying to leave (my earliest comments appear grisly to me when looking back) and I see it in their eyes too.
Well, we all learn and I wouldnt say a lot of things I said theoughout my life anymore. Dont cringe about your past, be happy that you were able to learn, adapt and change.
First off, happy easter! ❤️
Absolutely, However I can only fully move on when I physically move out. But because America is America and I have a depressed roomate that drags me down sometimes.
I feel you. Life can be harsh sometimes. Happy easter to you as well! (I needed your positive message today, more than you know)