So he sells a bunch of shares right before the announcement that is likely going to tank their stock price
We should come up with a name for such an act
We should make it illegal too!
We need to make sure we come up with a way to enforce it as well!
Okay, you lost me there now buddy!
Something catchy, like the 'buy and bail'.
cum and run
Cocksucking!
Pretty sure CEOs need to jump through more hoops to sell their shares like reporting that they plan to sell.
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.
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
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.
Not that scumbag ceos wouldn't do such a thing, but doesn't appear to be the case here: https://finance.yahoo.com/quote/U/ Anyways, investors love this subscription model recurring revenue junk, makes sense that if anything their stock price has risen from this announcement. We'll see how it pans out in the long term though.
Price is tanking at the opening bell while the market overall is flat or positive.
Depending on how long the backlash can stick around, I would expect to see it go down with a large exodus. In particular, if Microsoft gets upset about the impact it could have to gamepass. Unity does seem to be backtracking, but it really feels like they overextended on purpose to make the actual result feel less shitty
If you RTFA he's been selling shares steadily over the last year. This is not exactly a sudden dump.
Yeah, I did read it. Doesn't mean he didn't know that there would be backlash
And 2k shares is a lot?
Oh the guy who made EA suck is now making Unity suck what a shocker
He should go work for Epic, they're really just begging to be run into the ground by a shitty CEO
Nah Sweeny might be a goof but it's nice to see a geek instead of a suit run things
Sweeney wrote ZZT. His only "crime" was pissing off the Gabe fanboys.
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.
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.
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.
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.
I will say that next time to a console.
Not a literal comparison but you see where I am coming from.
Make epic GS a better version of steam (technical viewpoint not community) and I could see myself building another library.
They already are.
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.
As they say, trust is built in drops and lost in buckets. This guy is a fucking idiot, even by corporate douchebag standards
I wish I was a well connected idiot 😞
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
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.
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.
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.
I looked at C++ code and C# code and decided to go for C# because it's actually readable for someone starting.
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
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.
Those could've been just employees selling mature stock options.
He already knew a long time ago that this ship is sinking... What a pity, time to learn Godot.
Not defending the CEO, but selling 2k shares mean nothing for a CEO. I believe this would be a small percentage of his bonus.
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.
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.
I mean that's only like $70,000, which I'm guessing for him isn't a huge amount of money.
Big whooop
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