this post was submitted on 13 Sep 2023
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Unity had made their plans clear. Whether they backtrack a bit now or not doesn't matter. We know what direction they are heading: squeeze more money out of indie devs
The controlling shares of Unity are held by a trifecta of private equity and venture capital organizations. That’s why this is happening. It’s a classical presentation of the (short-term) profit über alles enshitification cycle.
And seeing as how the CEO sold 2000 shares just days before this announcement, short-term profit really is all they’re in for.
2000 shares is nothing
Ehh, the top folks at Google were all selling their maximum-permitted amount every window they got for a decade and the stock held up.
You typically don't need to buy shares as an insider, the company just prints more gambling slips -- er, I'm sorry, non-transferrable stock options -- and hands them out.
Or it just means they see it as compensation and are selling for taxes and expenses, not because they are worried about the long term direction of the company.
It's best part of $80k, it's still money made from insider trading.
No, it's probably just being sold to pay taxes.
Which is still money.
Yes, but it doesn't rise to the level of "insider trading," which means using internal-only information to make trading decisions. If they sell these stocks regularly, on a schedule, in the same quantity, it's not insider trading.
And that's exactly what they're doing, you can see their trades, and they're consistent for about the same amount. So they're not trading because of changes going on internally, they're trading based on a schedule, probably because they need cash flow for some reason. My guess is taxes for their stock compensation.
That's correct. Even with this backtrack, it's a safe bet that they'll likely re-introduce this same policy with different wording once they believe their consumers have calmed down.
Yeah it's like knowing the foundation is structurally unsound and still deciding to build a house on it hoping it won't get worse. It will.