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Reddit power users balk at chance to participate in IPO as Wall Street debut nears (www.cnbc.com)

submitted 7 months ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] GregorGizeh@lemmy.zip 39 points 7 months ago (1 children)

I read a pretty brutal analysis by a financial expert on some business magazine site. My biggest takeaways were:

new shares get 1 vote per share, existing shareholders 10 per share
under the rules they are doing the ipo they can skip providing solid numbers for the last years, and are unbound by board opinion on how much money can go into executive compensation and golden parachute packages.

Now I’m not an investor at all but this rings so many grift alarm bells I don’t understand why anyone would buy that shit. Seems like a completely dubious investment set up to pay out spez and then collapse.

[–] kamenlady@lemmy.world 8 points 7 months ago* (last edited 7 months ago)

Seems like a completely dubious investment set up to pay out spez and then collapse.

Are they trying to hide this intention?