this post was submitted on 18 Sep 2023
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Unity Backpedals on Its Horrible Plan for Game Install Fees Amid Developer Backlash (gizmodo.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Unity Backpedals on Its Horrible Plan for Game Install Fees Amid Developer Backlash::Unity CEO John Riccitiello reportedly sold thousands of shares of stock in the weeks ahead of the fee announcement.

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[–] nul9o9@lemmy.world 125 points 1 year ago* (last edited 1 year ago) (2 children)

Step 1: Propose an incredibly stupid, greedy, unpopular move that gets everyone pissed off.

Step 2: Announce a change of plans due to the feedback, and implement your original less stupid, greedy, unpopular move.

[–] xkforce@lemmy.world 30 points 1 year ago* (last edited 1 year ago) (1 children)

Step 2 is sell/short stock not revert idiotic changes

[–] reverendsteveii@lemm.ee 22 points 1 year ago (1 children)

That's step 0. They've already done it.

[–] ada@lemmy.blahaj.zone 0 points 1 year ago (1 children)

I don't know whether you care about the specifics, but just in case you do...

Selling stock you own before a price drop isn't selling short. Insider trading yes, but not selling short.

Selling short requires you borrow stock you don't own and then sell it, with a promise to purchase it later. If you know a price drop is coming, then you make money on the fact that you've sold it at a higher price than you need to pay to purchase it.

[–] reverendsteveii@lemm.ee 1 points 1 year ago

The comment I was replying to said "sell/short", either being strategies to protect yourself when you've got insider info that your company is about to hemorrhage money.