This should be beyond illegal.
This kind of white collar crime should be punishable in days for dollars.
The saddest bit is the staggering numbers of non-wealthy Americans who insist our economy isn’t completely rigged against them and rigged for existing capital holders, as if sucking up will grant them access into the little club doing the rigging one day.
They’re the poor deluded bastards that keep us stuck in it. “This is fine haha! I’ll fight you if you try to improve how fine it is haha! Give our glorious job creators everything and pray for rain haha!”
Afaik, it is. This news is blown out of proportion. Getting an approval to sell your shares takes like half a year, so these were actually sold way in advance. And he sold basically a couple of shares, compared to what he still holds. They are still scummy, but this is just an attention grabbing article.
Some rat-off-sinking-ship move? Only in this case the rat also was responsible for the sinking, and leaves with a pile of cash? But then I’m no expert in neither gaming nor stocks, nor ships.
Watching turbo capitalism eat itself live and in colour is rad.
I’m no expert either, but this could be a deliberate exit plan that CEOs do, or if he plans to stick around, it could be a deliberate ploy to buy back shares at a lower price - so even if he bought back everything he sold, he’d be making a big profit. Could also be combined with a ploy to introduce the actual pricing plan they wanted to implement all along, and when they implement it, it won’t seem so bad combined to what they’ve proposed currently, and people, especially those deeply invested in the Unity ecosystem, will lap it up.
Sadly none of these options seem to add anything of tangible quality to actual life, just yet another bit of scamming people out of money somehow to add to the general dystopian vibe.
How is this not insider trading?
Because it’s scheduled. He probably just has a “sell all of my stock bonuses as I receive them” order to his broker. If he doesn’t actually get involved in the day-to-day decision making of his stock portfolio, then there’s no special knowledge involved in the sale.
he didn’t have control over the trades, but he controlled the timing of the announcement entirely.
they knew since june (when the TOS was edited), but waited until last week to drop their stinker of a plan after everyone had already cashed out what they wanted to.
almightysnoo above posted this, which I think is revealing:
Chief among them being Tomer Bar-Zeev, Unity’s president of growth, who sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.
Twitter, Reddit, Netflix, Unity, we keep asking why these corporations are so greedy, but we know the answer. Because we let them be.
Why shouldn’t Google sell your porn history to the Saudis and Russians? Is your use of their search engine/apps going to change if they do? Even if it does, does it effect their sales? Are they actually going to be held accountable for their scumbag actions? Why should they give the slightest FUCK about you, if you’re never going to cause a problem for them?
No. They’re not.
Why do we let execs sell stock received as compensation at all?
It’s worth whatever it sells for when you resign. Which, if you did a good job, is way more than what it would’ve sold for the day you got it.
