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this post was submitted on 29 Mar 2024
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The point would be to diversify assets. You don't want to gamble everything on the hope the thing you believe in is successful. Not that I think they believe in the platform, but it is probably a smart idea to diversify no matter what. 25% of your shares does seem like a lot though.
If they sold at $50 a share, they pocketed over $25M each. Even after taxes, that is more than enough to live comfortably in any region's cost of living.
That's not diversifying. That is greed.
Them not selling isn't any more greedy. No matter what, they own the value of the stocks, whether they liquidate them or not. It's fucked up that anyone gets paid that amount in general, but they did and it's theirs. I don't know what you people would want from them. Isn't holding onto the shares hoping the value goes up even more greedy?
They get paid in cash ffs.
You sell stock when you think it's overvalued.
Or you sell stock when you need to rebalance. Fuck spez, but selling 25% at IPO seems sane and reasonable to me.