• Envis10n@lemm.ee
    link
    fedilink
    English
    arrow-up
    167
    arrow-down
    2
    ·
    1 year ago

    So he sells a bunch of shares right before the announcement that is likely going to tank their stock price

          • The_v@lemmy.world
            link
            fedilink
            English
            arrow-up
            4
            ·
            1 year ago

            Makes it easier for executives to plan when to make announcements like this.

            So he scheduled selling 2,000 shares 3 months ago. Then made the announcement a few days after the sales clear. Easily planned for on this type of announcement.

            They also do the same thing for positive news that will increase the stock prices. Announce it a few days before their scheduled sale.

            Creating a routine selling/buying schedule that coincides with expected announcement periods is pretty easy.

    • meco03211@lemmy.world
      link
      fedilink
      English
      arrow-up
      22
      ·
      1 year ago

      Pretty sure CEOs need to jump through more hoops to sell their shares like reporting that they plan to sell.

      • Carighan Maconar@lemmy.world
        link
        fedilink
        English
        arrow-up
        30
        ·
        1 year ago

        And if they don’t, sometimes they get a slap on the wrist, assuming the money is still within the country. Which it ain’t.

      • Envis10n@lemm.ee
        link
        fedilink
        English
        arrow-up
        4
        arrow-down
        2
        ·
        1 year ago

        You think they just suddenly came up with this model? No shit they have to jump through hoops. That doesn’t stop them from doing it in advance of something like this

    • cybersandwich@lemmy.world
      link
      fedilink
      English
      arrow-up
      14
      arrow-down
      2
      ·
      1 year ago

      A “bunch” being 2000 when he still owns like 3000x that. This was a quarterly tax sell off that an unethical reporter is using to get clicks.

      Hes a dick but this stock selling isn’t nefarious.

    • VeracityMD@kbin.social
      link
      fedilink
      arrow-up
      5
      arrow-down
      2
      ·
      1 year ago

      If you RTFA he’s been selling shares steadily over the last year. This is not exactly a sudden dump.

      • Envis10n@lemm.ee
        link
        fedilink
        English
        arrow-up
        1
        arrow-down
        1
        ·
        1 year ago

        Yeah, I did read it. Doesn’t mean he didn’t know that there would be backlash

    • Ertebolle@kbin.social
      link
      fedilink
      arrow-up
      33
      arrow-down
      5
      ·
      1 year ago

      He should go work for Epic, they’re really just begging to be run into the ground by a shitty CEO

        • GreenMario@lemm.ee
          link
          fedilink
          English
          arrow-up
          7
          arrow-down
          31
          ·
          1 year ago

          Sweeney wrote ZZT. His only “crime” was pissing off the Gabe fanboys.

          • pivot_root@lemmy.world
            link
            fedilink
            English
            arrow-up
            47
            arrow-down
            4
            ·
            1 year ago

            Nah, his crime was paying studios for timed exclusives.

            It’s one thing to provide a viable alternative to Steam and give consumers more options. It’s another to provide an inferior alternative to Steam, pay money to take away consumers’ options, and act like the messiah of the gaming industry while doing so.

            • SkyeStarfall@lemmy.blahaj.zone
              link
              fedilink
              English
              arrow-up
              10
              arrow-down
              27
              ·
              1 year ago

              But developers like it, because it’s a sum of cash they get as guaranteed money, and epic gets exclusives as a result.

              …and in the end, it’s just a launcher. At least you don’t have to buy a whole other dang console.

              • operetingushisutemu@feddit.de
                link
                fedilink
                English
                arrow-up
                16
                arrow-down
                2
                ·
                1 year ago

                Epic was always behind Steam, if you like it or not. That Valve tries to assure its independency from other vendors (Microsoft) by creating its own OS and hardware should not be too difficult to understand as a company decision. At the meantime Epic is trying to buy its place in the market with exclusives and free games, not respecting or trying to bend other platforms rules.

                I don’t care where you buy your games, but I do care, which companies try to force me to their buggy, unfinished and user-unfriendly platform, for a game I was waiting to be published.

                But it’s a preference thing.

              • pivot_root@lemmy.world
                link
                fedilink
                English
                arrow-up
                5
                arrow-down
                1
                ·
                1 year ago

                It’s a similar UX issue to TV/movie streaming.

                Sure, it’s just another one. But, it’s a bad experience for the end user. You have some games exclusive to one launcher, other games exclusive to some other launcher, and so on. You have multiple different flows to achieve the same thing, and each of them are subtly different. Paradoxically, the only consistent way to launch all my games is by avoiding the launchers entirely and instead using the desktop shortcuts they create for games.

  • TsarVul@lemmy.world
    link
    fedilink
    English
    arrow-up
    65
    ·
    1 year ago

    Like laying down a mighty fart just as the elevator doors close, Unity management abandon the aircraft they were supposed to captain on their golden parachutes. The corporate money making machine continues to chug on.

  • NOT_RICK@lemmy.world
    link
    fedilink
    English
    arrow-up
    54
    ·
    1 year ago

    As they say, trust is built in drops and lost in buckets. This guy is a fucking idiot, even by corporate douchebag standards

    • BURN@lemmy.world
      link
      fedilink
      English
      arrow-up
      2
      ·
      1 year ago

      I’m pretty sure every moderately in touch indie developer has removed Unity from their future projects. They’ve entirely lost the trust of the community and probably can’t do anything to earn it back

    • Immersive_Matthew@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      1
      ·
      1 year ago

      I too think he is an idiot, but since he likely is not, we have to wonder why he is tanking Unity. Mayne he and Musk are both playing some game where they personally win by destroying a company? I don’t know, but it all seems suspicious.

  • pdxfed@lemmy.world
    link
    fedilink
    English
    arrow-up
    43
    ·
    edit-2
    1 year ago

    He sold 2,000 fucking options at $1.43 a piece today. The largest trade he’s ever made was selling 1,899,317 units of Unity Software stock on 4 June 2020 worth over $87,615,493. On average, Mr trades about 193,001 units every 155 days since 2012.

    Stop clicking on yahoo finance shit articles. List of his unity sales history: https://wallmine.com/people/85761/john-s-riccitiello

    • solstice@lemmy.world
      link
      fedilink
      English
      arrow-up
      9
      ·
      1 year ago

      Adding to this: SEC regs for officers in public companies require them to plan and disclose trades well in advance. It’s not exactly my field and I’m way too lazy to research, but it’s probably like one or two quarters in advance. This is to prevent market panic and speculation exactly like the bs in this thread.

      • pdxfed@lemmy.world
        link
        fedilink
        English
        arrow-up
        3
        arrow-down
        1
        ·
        1 year ago

        Yep, I didn’t bother to include the advance disclosure requirements. Publically traded company employees with insider information are banned from trading on it (theoretically could be anyone but generally just reserved for execs who actually make enough off the dishonesty to be worth going after). Execs can’t even trade in real time as the temptation is obviously too great, they have to make any buy/sell purchases of their own company a quarter in advance.

  • northendtrooper@lemmy.ca
    link
    fedilink
    English
    arrow-up
    42
    arrow-down
    3
    ·
    1 year ago

    I remember rooting for Unity over Unreal because I like using C# over C++ (because smooth brain). But when he stated that if dev aren’t using mobile then they are dumb (paraphrasing), I shifted to Unreal. Glad I did after seeing this shit show. Hope he gets the boot after this.

    • Dawn@lemmy.world
      link
      fedilink
      English
      arrow-up
      25
      ·
      1 year ago

      I liked using unity cause it was faster, more light weight, and had much more community based things around it. I’ve been mainly developing in unreal this past year due to it being a group thing, but I’m gonna be fully switching over to Godot for any personal or individual development now.

    • morriscox@lemmy.world
      link
      fedilink
      English
      arrow-up
      2
      ·
      1 year ago

      I looked at C++ code and C# code and decided to go for C# because it’s actually readable for someone starting.

    • learningduck@programming.dev
      link
      fedilink
      English
      arrow-up
      18
      ·
      1 year ago

      Not defending the CEO, but selling 2k shares mean nothing for a CEO. I believe this would be a small percentage of his bonus.

      • mrsgreenpotato@discuss.tchncs.de
        link
        fedilink
        English
        arrow-up
        4
        ·
        1 year ago

        According to the article, he has sold over 50000 within the last year alone, and hasn’t buy back a single one. And that’s already saying something.

      • sebinspace@lemmy.world
        link
        fedilink
        English
        arrow-up
        4
        ·
        1 year ago

        Still immoral. I know everyone here is arguing about SEC regulations and that fuckboy was technically within his legal rights, but I’d like to remind you all that THE LAW IS ONLY THE BARE MINIMUM FOR ACCEPTABLE HUMAN BEHAVIOUR AND YOU SHOULD PROBABLY AIM WELL ABOVE IT TO NOT BE A COMPLETE SHITBAG

        I don’t care about what’s legal, this was still an immoral move.

        • learningduck@programming.dev
          link
          fedilink
          English
          arrow-up
          1
          arrow-down
          1
          ·
          1 year ago

          Don’t know man, 2k of unity shares should be miniscule compared to salary of a CEO of a company this size. It could be just selling to pay for tax or something. 2k of Unity worth less than $80k.

  • sadbehr@lemmy.nz
    link
    fedilink
    English
    arrow-up
    16
    arrow-down
    2
    ·
    1 year ago

    This move is part of a larger trend for the insider, who over the past year has sold a total of 50,610 shares and purchased none.

    Nothing suspicious about that.

      • douglasg14b@lemmy.world
        link
        fedilink
        English
        arrow-up
        6
        ·
        1 year ago

        This is the new Reddit, things like reasoning don’t go with the group think, we don’t do that here.

        /s obviously, since this was downvoted thought I’d be sassy about the general decline in lemmy quality.

        • solstice@lemmy.world
          link
          fedilink
          English
          arrow-up
          1
          ·
          1 year ago

          Besides slashdot back in the day I’m not sure if there’s a single place on the internet where people stop to think. And slashdot was heavily biased too come to think of it.

  • canni@lemmy.one
    link
    fedilink
    English
    arrow-up
    14
    arrow-down
    1
    ·
    1 year ago

    I mean that’s only like $70,000, which I’m guessing for him isn’t a huge amount of money.