So only three years of Steve Huffman’s salary?
Watch as he burns through it in one:-).
Also, bold of us to assume that he has not already spent it:-P.
It’s in the form of stock options, which won’t be worth any particularly noteworthy amount unless the IPO goes really well.
If it has a dollar valuation, if it’s taxable, it can be liquidated.
Are you talking about writing them off?
Options come with the obligation to pay for the underlying asset, so unless they are valued above the strike price, they are effectively worse than worthless.
No, I’m talking about real compensation.
Is it just options specifically, or grants, or …?
Would the reported compensation be at the strike price, or the current valuation, or the difference?
Not American, but I would assume the Black-Scholes model will be used for valuation.
Face value is unlikely to be the amount reported - I doubt the options are granted below the last reported market rate. Hence it’s probably relative to the amount of underlying stock the options represent.
You’d have to check the SEC-filings for more accuracy than that.
Options can come with or without the obligation to buy the underlying asset. I’d assume they will never be worth less than worthless.
Less than worthless would be when exercised, not exercising would be worth 0 - unless you paid for the option contract, in which case not exercising would represent a loss.
“Website that never made a profit thinks it’s worth over 6 billion dollars. Yes US dollars.”
More like $599 US dollars. Riiiiidge Racer!
☠️Reddit has NEVER been profitable ☠️
You don’t have to be profitable to have a desirable stock, but usually there is some promise of future profitability (like Tesla for most of its history.)
Not sure what reddit has going for it, though.
I think Reddit will be Robinhood 2.0
It’s a bag pass/exit liquidity
It’s a ruse
OF thots?
This has never been necessary for an IPO.
Typically, IPO’s are nothing more than exit liquidity
Basically yeah. Cash-out time for the VCs.
Who cares, we’re leaving an economy where no one cared about profitability. Just growth. It’s all about whether they can capitalize on that growth now.
Spotify was the same. Turned a profit the first quarter after shifting the focus towards profitability.
Looking at what reddit was and what Reddit is now, I genuinely can’t imagine why anybody goes there anymore. The odd time I do some nice doomscrolling, I find that >99% of the content is re-heated and re-served. Nothing there informs me anymore. Nothing there inspires me. Nothing makes me think in a new way.
Every day the same thing ad nausea. Fascism bad. Sexism bad. Phobia bad. Musk bad. Orange man bad. Inflation bad. Boomers bad. Cats good. Name my rescue dog. Celebrity good. Celebrity dead.
That site should be renamed Reggurgitatit.
Every day the same thing ad nausea. Fascism bad. Sexism bad. Phobia bad. Musk bad. Orange man bad. Inflation bad. Boomers bad. Cats good. Name my rescue dog. Celebrity good. Celebrity dead.
That’s not just Reddit. That’s the entire Internet right now. Reddit or Lemmy, X or Mastodon, Facebook or anything else on the Fediverse. It’s all the same. We are living in a time of mass fear because of several different reasons. War, climate, economy, personal rights… pick whatever topic you want. There’s a reason to be angry about it.
We need to go back to the days of happy people sharing their passions, rather than angry people attacking each other. But that won’t happen anytime soon.
It’s still insanely popular.
I don’t know about “insanely”.
It’s not in the top 10 globally. It gets less traffic than Yahoo or Yandex.
https://www.similarweb.com/top-websites/
Compared to other social media it’s below Facebook, Instagram and even the dying Twitter. It might get more traffic than TikTok (which seems off to me) but unlike Reddit and Twitter, TikTok knows how to make money. Reddit has never made money, but the pitch to investors is apparently “as soon as we go public, we’ll be in the black, trust me bro”.
Yes, but why?
There are still a lot of smaller subreddits of rather niche communities that you just don’t have here on Lemmy for example
That whole “niche communities” thing never rang true for me. I mean sure, if you like cast iron you can go to the cast iron community. And see 9000 pictures of cast iron pans and people freaking out about cast iron. Or cooking… and you have to listen to THOUSANDS of recommendations for air fryers but not cooking.
The “communities” system never worked from the word go. The site content should have been organized with weighted tags. As I find few things more nauseating than “collective intelligence” which is mostly wrong, ill-conceived, closed-minded and half-baked at best.
I mean at least for video games especially ones that are live service games having a place to go to talk about the game and new changes is really nice and still a thing I miss a lot about Reddit.
Disagree, there were, possibly still are, good ones. A handful around mushrooms cultivation, food preserving, food fermentation and personal finance specific to my country come to mind, lots of high quality content.
But I know what you mean. I think it mainly happens once specific subreddits started going mainstream, often with an influxnl from facebook people. Out of all the fermented stuff, the kombucha one made my eyes bleed due to its popularity. Half the posts where new people asking if they had a mold problem, the other half was existing members posting “read this before posting, this is what mold looks like”, but they were obviously ignored lol
I go there still when I want product recommendations that aren’t full of marketing/ads. If I use a search engine to search for example, “dashcam recommendations,” I get a million results that are sponsored, SEO-optimized, or otherwise garbage. If I go on Reddit, I’ll find an entire community devoted to the topic with seemingly real people discussing the pros/cons of all different models.
I’ve tried searching with Lemmy but most of the time I can’t find the answers I’m looking for so end up crawling back to Reddit.
I absolutely don’t go there to doomscroll like I used to, I’ve thankfully moved on from that life.
I go there still when I want product recommendations that aren’t full of marketing/ads.
I need you to understand that Reddit Astroturfing is a gigantic market. You’re no more getting authentic experiences than you are with random (I got it for free with a check for $5000) YouTube review.
I’ve never seen the view of an IPO so heavily affected by bias. Superusers hate Reddit but so what - what matters is whether soccer moms are scrolling and being shown ads. No one cares that the most costly users are unsatisfied. You and me both are nothing to investors.
Is there some objective analysis of this IPO? All I’m seeing is “I’m a superuser who spent a lot of time on Reddit in 2007 and it was far superior back then. The stock will tank.”
Yeah, reddit is astroturfed to hell and back. unless its something programming, the idiots on reddit are usually wrong.
Honestly not much different on largerv lemmy communities either.
This is more of a symptom of our society than of a specific platform.
Boo hoo cry some more 🤌🎻
lol I kinda hope it crashes and burns
I truly hope this.
I will be shorting once it plateaus a few days after launch. I’ll at least finally get paid for them selling my data for a quick buck.
Best of luck (mean that sincerely)
I mean I want a stripper girlfriend and a gold-top les Paul but we don’t always get what we want do we, Steve you prick
As someone who dated a stripper in college and got to know a lot of those folks outside of work, trust me, you don’t actually want a stripper girlfriend.
Edit: That said, the guitar is a fine choice.
Access to.
But I don’t think I know a single redditor who got the offer who is buying. I’m not.
Twelve dollars and a bitten sandwich. That’s my final offer, and already more than generous.
Throwing away a perfectly good bitten sandwich like that? smh
Yeah that’s a waste of a good sandwich tbh
It’s just hilarious to me how they have moderators on their platform doing all the work for them FOR FREE and they just sit there and try to get money for it.
There needs to be more of a movement away from Reddit towards things like Lemmy.
What’s a reddit?
Hello
