Unity CEO Fired | Prime Reacts

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[@devvorb1571]

Now the senior Dev explains financial stuff to me - nicely done!

[@Kane0123]

The Oracle of Montana

[@spicynoodle7419]

Señor Developer

[@Flameandfireclan]

@@spicynoodle7419Mr Developer. Is that what we are gonna call Primeagen

[@crankytec]

Yeah, about that, I have this bridge to sell you...

[@mvargasmoran]

I'm really surprised he resigned, I was expecting for him to get a raise and fat bonus, while the company bleeds.

[@Reydriel]

Don't CEO's like these get golden parachutes (or w/e they're called) when they leave? Or is that not done anymore

[@mvargasmoran]

I guess he was offered a fat amount of shares or something like that, he did perform his job being the evil CEO @@Reydriel

[@heavymetalmixer91]

The investors were losing money, and he was the public face of the company, so it was his head the one to roll so to gain back a little bit of "credibility for the company".

[@mvargasmoran]

you sure he wasn't a planned sacrifice? "guys let's test the water, if it goes really bad, just pay me and I GTFO"@@heavymetalmixer91

[@THEROOT1111]

That's not a bank, therefore no bailout with taxpayers money so... yeah, it's a structural issue you could say.

[@akshay-kumar-007]

Ironically, India's 2nd largest stock broker (1st till yesterday) Zerodha, is a privately held company. They do exactly what Primeagen told. They give stock options to employees and do buy backs and dividend payouts regularly. And they have literally 32 people in their tech team Imagine being one of the largest stock broker in world, with a tech team of 32.

[@kuhluhOG]

well, companies like this don't need to develop a lot of software they need a few which need to be really good but these types of software can't really be developed by a lot of people

[@ark_knight]

@@kuhluhOG Makes sense since the logic of stock market doesnt change. Just the regular security fixes.

[@kuhluhOG]

@@ark_knight well, they do a LOT of optimizing it's just that they don't need many many feature, but these need to be very good and fast and that's not really something a lot of people can work on in parallel

Almost the same with Valve. Could be very interesting to see their capitalisation if they go public.

[@shrin210]

Conclusion: Going public, destroys the company But as a public should we invest in those company? My answer: We shouldn't and just invest in yourself but if we can't believe in ourselves invest on us, then we can invest on whole stock market like index fund just to retain value but it won't have much return like making millionaire or retire at age 50 money.

[@jarretthorton7439]

It’s because they didn’t hire Tom the genius

[@ThePrimeTimeagen]

tom would of JDSL'd their process so good

[@SirZokxyron]

Tom's a fkin genius

[@dewamscvbvx]

@@ThePrimeTimeagen please make tom canon in @ThePrimeTimeagen verse

[@ea_naseer]

​@@dewamscvbvxhe's canon

[@pietraderdetective8953]

I actually checked Unity's corporate action...so Unity did a convertible notes on Nov'21 in order to fund their purchase of IronSource (stock-based deal) and Weta (combo of stock and cash deal). The thing is, the CN has no floor price..so the notes holders can convert higher number of shares when the share price is going down...and the share price has been doing exactly that since end of 2021 till today. This is known as convertible notes / bonds death spiral because with no floor price the share price will keep on plummeting..added to the fact the financials are still in the red (negative).

[@philsburydoboy]

One of the reasons these companies go public is because founders want to retire. If you've been CEO of a company for a decade, you'll probably get tired of not knowing your family and not having any hobbies anymore. Oftentimes they sell their stake to private equity, which restructures the company to be sustainable without the founders so that their investment retains its value. Usually that restructure is aimed at either (A) becoming a public company, or (B) selling to a public company. I wouldn't be shocked if the unity founders sold most of their stake for a huge pile of cash from VC/PE 3-4 years before going public.

[@leastmachine8693]

Maybe they should fire the consulting firm that gave them the idea in the first place 🤔

[@ollydix]

Consulting firm owned by the CEO (common practice)

[@kuhluhOG]

About the whole "stock"/IPO thing: I have to this days not seen or heard of one company where the constant demand of growth by their shareholders didn't long term destroy the company.

[@tripnils7535]

Alphabet, Microsoft, Amazon all do pretty well.

[@macchiato_1881]

Most tech shareholders are fucking clueless wrinkled baby boomers who dont understand the first thing about turning on a pc.

[@kuhluhOG]

@@tripnils7535 I said long term, these companies are comparatively pretty young

[@ApiolJoe]

Must be deaf then. Most well-known companies are doing at least decently (at least certainly not on the verge of destruction).

[@kuhluhOG]

@@ApiolJoe and all these companies are either still in their expansion phase or pretty young

[@kuhluhOG]

15:30 I once worked at a private company which gave their employees a cut of the profits which also means that the employees notice when the company is doing well and when it isn't.

[@mohamaddelkhah]

Personally I have no problem with them trying to get more money, and I don't have any problem with monetizing their product from us game developers either. I'd be content if they understand that pouring gasoline on everything than throwing in a lit match isn't the way to do it, as that prick of a CEO obviously didn't.

[@classic7033]

Brilliant video. Getting a finance and a philosophical perspective from a tech channel was unexpected but very much welcome

[@abujessica]

Never been interested in economics this much, I love how primeagen is able to make anything he speaks about interesting man you're gifted anybody knows how to learn more about this subject? (the stock market, dividends and tactics used by companies and such)

[@willi1978]

i'd start with what kind of products exist on the stock market (shares, options, index funds). after that you can decide where to go deeper depending how much time you want to spend a week doing research. if you buy shares, you should check on them regularly to see how they are doing, options and funds you don't have to track that regularly. options have a fixed percentage return on the investment and funds can be linked to an index or are managed by the bank.

[@abujessica]

Thank you a ton for your time Willi, any tips on where to start learning and practicing (virtually)?@@willi1978

[@rumplstiltztinkerstein]

Stock market obsession with maximizing profits is the source for so many of our problems today. Pollution, corruption, the centralization of so many companies, wars, planned obsolescence in all kinds of products like phones. There is so much stuff. What else am I missing?

[@x--.]

Enron to Bear Sterns. Stock markets where reality doesn't matter, just perception and there is no real punishment for lying leads us right here.

[@NMiller_]

Publicly traded companies are always looking to satisfy shareholders quarterly, or maybe yearly. Empires are built on long term strategies. Taking it on the chin for a few cycles so you can transition or overcome isn't rewarded as strong leadership. For some groups this might work. But, I think more companies should stay private and focus on long term success, instead of short term gains.

[@ThePrimeTimeagen]

THIS!!! and also, you don't always need to keep making money, but staying relevant (even if you make more or less money, but remain in business longer) like i really don't see the point of unity going public, it doesn't offer anything to the end user, the customer

[@NMiller_]

Imagine if the customer dictated all the stories for your sprints. That's what quarterly earnings calls are (IMO).

[@tubeincompetence]

I just feel the problem was HOW they went about their changes. Not that they wanted more money.

[@Algorythm44]

It doesn't matter who gets fired, they showed they were willing to immediately jump into horrible ideas, I've already started porting to godot and never looking back, they can't be trusted

[@dixztube]

If only folks treated our politicians this way haha

[@Fiercesoulking]

@@dixztube If we talk in the west in general from the voter perspective they start to do. Sudden changes aren't a good thing but a must thing which need to be happen. This is what democracy makes a better system.

[@prestigemultimediagroup6436]

Plus the ceo doesn't make policy he executes it like the us president... The board of directors make the decisions he merely executes their plan... And so everyone knows he didnt come up with the idea the former ceo and founder of ironsource and the two members he has on the board made this deciaion... But yep all of you keep being as dumb as to think anytjing at all will change with unity News flash . He's the publicly facing figurehead and fall guy nothing more

[@NihongoWakannai]

​@@dixztube if only politics wasn't a rigged game where every option is corrupt

[@dixztube]

@@NihongoWakannai really starting to feel that way and not just feel - but show. But that seems nationally, locally there are some of the best and worst ironically

[@x--.]

"I love the stock market" and "Most companies shouldn't go public" seem opposed but it actually just makes me wonder: Are there any stock markets that focus more long-term? One of the big flaws of the current exchanges is they seem to be optimizing for the richest, highest-frequency traders to extract wealth from the "mom and pop" and institutional investors by just being fast behavioral prediction engines. But if an exchange existed that was optimizing for what Prime says here: building value over the long-term, I'd find that really appealing.

[@ApiolJoe]

The exchanges don't optimize anything. It's the HFT and the traders who are trying to optimize the way people interact with the markets to extract wealth. It seems you're a bit unsure about which functions the exchanges fulfill in the economy. We would be much less technology advanced if no company ever went public. Whether it's for the better or for the worse, I'm not debating that, it's a whole other topic.

[@x--.]

@@ApiolJoe I'm totally out of my depth but I'm not arguing against optimizing the raising of capital for businesses using a stock market. I'm saying that it appears the stock market has now been optimized to make rich people richer by using techniques that extract value from other participants (HFT) while adding instability and other harmful incentives. Put another way, if you aren't making money off a company increasing its value then it seems to me, correct me if I'm wrong, you're making money by gaming the system and there are negative externalities in that.

[@Ampullae]

I looooove your attitude lol. absolutely hilarious and on point

[@ahettinger525]

Buybacks also help if you're paying dividends on another front. You don't have to pay the dividends on the stock you've bought back. So the price of the stock goes up, and you pay less (in aggregate) for dividends, while not _lowering_ the dividend.

[@cyberneticbutterfly8506]

"Why aren't we growing as much as we thought we would?" "Pressure the managers!" "Make new revenue streams!". These ideas wouldn't happen if the company had accurate perception of its place. Its actual market size. Companies are all essentially staying afloat by only hiring managers who accurately see the real market their product can go for.

[@crankytec]

Stock buybacks were illegal in the US until 1980's for a reason. It means, that instead of investing your profits into better products, employee trainings, technology and all that good stuff, you dump it all into stocks in the dumbest way possible, when their value is high. So, as a CEO you have to do almost nothing, shareholders will be please and you will eventually walk away with a huge bonus. Why would you walk away? Because eventually it all crashes down, like it did for Boeing, which lost a massive market share when the literally killed hundreds of people because of buyback BS.

[@AndrewTSq]

I wish you used some more volume in your videos. I use to have instrumental music on in the background while working, but with your videos I have to lower the music to 1%, and yours to 100% and cant hardly hear what you are saying :) Its the same with most twitch streamers for some reason, maybe twitch lowers the audio volume.. cause in the ads on twitch, its like a boombox in your ears and that back to whispering in the video :)

[@AnnCatsanndra]

As a Twitch Affiliate I can say it's hard to add any more gain to the recordings without clipping the audio capture. Maybe there a way to do it gracefully, but this is a constant frustration for me because as a viewer I usually don't want to hear the speaking person's background music over my own side audio. On Twitch, FrankerFaces includes an audio compression option that can help when viewing, but that doesn't help with the KZbin situation.

[@AndrewTSq]

@@AnnCatsanndra ah I understand. thanks for the information.

[@NMiller_]

Dude... The SubPrimeageon

[@andso7068]

Yeah, even the vast majority of employees felt that going public was a mistake. Either way, I'm putting in an application at Unity sooner than later, because at this point, all they can do is go up or offer a nice severance package when they inevitably belly up.

[@jaimesoad]

15:40 to the person who asked if a public company can go private. Yes, it is possible. Best example is Twitter

[@truthseeker8139]

As an aspiring game developer I was excited for the new pricing model. It was going to take the top tier developers seriously. Now I am discouraged and feel like I need to write my own game engine now.

[@AlecMaly]

Off to his next exec level position.

[@MonkeyKong21]

people in general need an education on the stock market and prime is giving correct information here i'd just add that trading stocks around quickly, more or less, is the zero-sum aspect, and is used by sophisticated investors to take money from less sophisticated investors -> it's a system of gambling with the stocks, which is not their intended purpose but, investing (i.e. holding onto stocks, i.e. allocating your capital to good companies for a duration they can build themselves up with it) is productive economic activity and on average is positive-sum -> it benefits you and the companies and society altogether because wealth is generated rather than merely changing hands

[@PaulZyCZ]

On the bright side (of the life): Jim is great CEO and he's been dealing with IBM.

[@njnjhjh8918]

If they have 7700 employees this should be the best engine in the entire world, hell they could have two different best engines in the world

[@lonelyteapot]

We need a financial course on Frontend Masters. Now.

[@HMan2828]

I wouldn't be surprised to see Microsoft step in with a buy offer in a little while. Unity is Microsoft's entire gaming development ecosystem...

[@SpazeUnofficials]

the what -agen" ...?

[@spicywe1ner]

700 million in cost for a game engine sounds insane to me. I guess I don’t understand what engines take to develop.

[@jouniosmala9921]

What they actually needed was a small royalty from successful developers instead of install fee. The total gaming market is 400B$, if they could claim 2% of a 10% of it that would be 800M$.

[@DannyMcPfister]

Warren Buffering 😂

[@TJackson736]

Is the guy who did all the microtransaction stuff get fired, or is he still with Unity?

[@ThePrimeTimeagen]

he is fired

[@TJackson736]

@@ThePrimeTimeagen Thank you.

[@CaimAstraea]

wow is the board so powerful in the US ?

[@krooqs]

Unity has some offerings that have great potential. They are trying to be the AWS of the game industry, which has amazing potential to make money. The problem is that they are insisting on tying their cloud services to their engine and that thing, does not make money. It's OK in practice, the moat is goat, but if you want to do it that way, your offering needs to be the best.

[@alexdefoc6919]

Well Twitch.....is next?

[@alexdefoc6919]

At least he sold some stock

[@toxic_icecream]

If they choose to drop the self reporting system they will need to have a better proposal than "we will decide how much you pay us, trust me bro"

[@blackbird8192]

why TF do they have 7k+ employees?? you don't need that many to make a good engine, what the heck are they all doing? Wouldn't surprise me to find out they only had like ~1k devs, mabe less. If it's anything like other companies i've worked for, then it's probably mostly sales, HR, managers, execs, blah blah, then they wonder "wHy aReN't wE pRofiTaBle?!?" Ya well, too many people talking about the work that needs done, not enough people to actually DO the work.

[@lankymoose1831]

Does Unity really need over 7,500 employees? How many of those are developers?

[@nixonrulez]

They don't have to earn more money, they have to cut costs...

[@RiftTraveller]

Great take, all around.

[@albyx]

I CALLED it weeks ago! Riccitiello was the 'sacrificial lamb' so that the company could save face, "hey, we're not the bad guys, he is! we're still charging more money though"

[@ApiolJoe]

Well, they kind of need to charge more money though, otherwise they'll just disappear.

[@JiggyJones0]

You didn't call anything. People were already viewing him as a villain because he sold Unity Stock right before the announcement.

[@firesoul453]

Great nuanced take. A lot of people ignore the reality and just celebrate his demise.

[@oystercatcher695]

you mean: fewer seats means less money

[@embedded_software]

If Unity doesnt change their course, their next CEO will suffer the same fate.

[@nad9969]

Maybe unity should go to a subscription model?

[@cryelectric]

No fear. The next would-be “CEO” is waiting in his hole to appear.

[@putyah]

This is the same guy that wanted to charge people $ to quick reload in battlefield when he was EA's CEO.

[@AdamLeis]

Can… can we hang out some time? I get the sense your range and depth of knowledge would lead to fascinating conversations. Your comment on us being hylomorphs in a previous video caught my attention (I'm also code-theology-etc in studies). Good stuff, Prime. I appreciate your guidance and content.

[@TurtleKwitty]

"Theyre not as feature complete as unreal so wont be as expensive" except they ARE way more expensive; unreal doesnt charge per seat while developing just post release and PAST 1 mil. unity is charging epr developer seat PLUS 2.5% INCLUDING the first mil. WAY more expensive except for the absolute most giant earners

[@baileyburnsed4352]

This is way I use Godot.

[@blipojones2114]

Unity, it was born, it grew, it lived and now its time for it to die, out with old in with godot

[@JiggyJones0]

Unity is not old and thinking Godot will replace it 😂😂😂

[@F00dstamp96]

I don't think they really cared too much about the public perception itself but it was a side effect of what they already didn't like about him. He didn't bring in the numbers. He was unfit. His strategies didn't work in that market.

[@NebucadLaVey]

12:05 The world would be a better place if we didn't need money at all? Imagine what we could do with all of these resources. When personal prosperity does not come first, but rather the benefit for everyone. You should walk down the streets with your eyes open. Capitalism always produces a winner and a lot of losers.

[@Mempler]

They should've said: Game sells per person, not install fee. that was their biggest issue anyway, godot and bevy all the way!!

[@blipojones2114]

Just do a the Musk Manouver I.e. fire half the company 😂

[@H3cJP]

Surprise for anyone? i dont think so

[@Mempler]

anyway, they should've laid off THOUSANDS of people not hire hundreds in a single month, fat management issue. no game engine company needs almosf 10k people!!! at max, it should be 1k. in total. they would'nt even need this bs fee, they almost rolled back.

[@nixonrulez]

Elon musk shall buy unity...

[@joga_bonito_aro]

Thank you coding god(ot)

[@user-qr4jf4tv2x]

unreal making the most realistic graphics unity making people unite against unity godot definingly not a god

[@vluis217]

"Companies shouldn't make more than $100 million" And you are the Based-agen.

[@saritsotangkur2438]

He’s not fired for the decision, he’s fired for not caring about the impact their customers would face and addressing them. There’s a huge difference between the two. This is not scapegoating, this was a failure to execute a pricing change effectively which in my mind is a fireable offense for a CEO.

[@iamgroot69-kp5fl]

I think Stock Market is zero sum game. Someone is making money and someone is loosing it. With an exception of dividend yielding stocks.

[@FraserChapman]

The stock market is classically not a zero sum game - precisely because everyone can make money. For example - If everyone buys shares in X company - and X company produces a fancy new widget that the masses want - everyone that invested gets richer. A true zero sum game is something like bitcoin - where the only value comes from other people investing. There every single gain is someone else's loss.

[@iamgroot69-kp5fl]

@@FraserChapman But isn't the value of stock driven by it's liquidity. There is so much a company can grow. And ultimately the one's holding the stock at inflated valuation are the people who will loose their money.

[@FraserChapman]

@@iamgroot69-kp5fl The value of stock is driven by lots of things - liquidity plays a part - but it is mainly confidence, financial performance, earnings, growth prospects, competitive positioning, etc - generally what are called "fundamentals". Even in your hypothetical - that wouldn't make it zero sum - that would just be a classic speculative bubble. Zero sum actually means something specific.

[@pldcanfly]

Honestly I am suprised he stepped down. Usually in the gaming industry a ceo can do what ever the frick he wants and still collect them bonuses. Just look at Bobby Kotick.

[@symix.]

What? Bobby Kotick didnt do anything that dangered the company. How does this have anything to do with bobby, pretty sure bobby has made very good decisions for the business and knows how to exploit gamers. (But not too much, so they keep bringing money in)

[@binary_gaming113]

​@@symix.Sounds like you missed the whole blizzard drama / shitshow a while ago.😅 That man (and other people in the company) did some seriously messed up things, not necessarily financial.

[@symix.]

@@binary_gaming113 no, i didnt? Thats exactly what I dont understand, how is this relatable? Unity CEO didnt do anything "disgusting", he made bad business decision that threatened the company. What bobby did, did NOT threat the company. He also saved the company. (Invested when it was going bankrupt) and then succeeded. Again, I dont understand how that is comparable to this? Like who the fuck is surprised theese days that companies dont care about morals, and care about bottom line? And I am not defending what bobby did, but saying that makes no sense, for that to be some reason for being surprised CEO being resigned for threatening the companys profits. If unity's CEO was in similar scandal as bobby, and resignation followed, then being surprised would be understandable.

[@Tobsson]

I thought of Bobby half way through your comment 😂 a true money, money CEO.

[@MisheelTubshinbaatar]

@@symix. Bobby's penny crunching action for sake of higher revenue all for sake of share holder ended up costing it's game IP massively.

[@baguettedad]

TheEconomicagen

[@moonasha]

as a user of Unity, I am perfectly happy with a revenue share system. It's just the way it was implemented was entirely absurd and unrealistic and scared a lot of users. Whoever made that decision should be fired. I have a feeling it wasn't John's decision though.

[@enitalp]

I have been in multiple public game companies, and the stock exchange was the biggest problem.

[@PhilfreezeCH]

14:30 There is no way to make 30% year-over-year consistently, in fact on aggregate there cannot be a way to beat the market consistently. If there were, it would get priced in and you would no longer be beating the market consistently. Of course single actors can do it over a limited time period but that is neither something a lot of people can do, nor can it be consistent across an indefinite time period. Otherwise the whole price structure of the stock market would rather quickly detach from its own pricing mechanisms (not reality, it does that one anyway) and the market would collapse. The average return is 10% (7% if you price-in inflation), this is the figure you are looking for, everything else in either direction is just randomness you can‘t really account for. P.S: I would like to add one caveat, there is a way to consistently beat the market. It is called insider trading. If you have more information that the majority of investors (meaning mostly institutional investors), then you can of course outperform them.

[@brod515]

what is this title. I think you should rename it to something like unity ceo steps down or something.

[@ThePrimeTimeagen]

yeah,... oops

[@brod515]

@@ThePrimeTimeagen yeah it’s just i really use titles to determine whether i’ll watch something

[@complexity5545]

CEO was fired; they want you to believe he stepped down or even got fired...LOL Its a scapegoat hope routine. They're still going to middle finger unity devs.

[@sweep-]

For some strange reason, companies don’t understand that there is only so much of your product than you can possibly sell. Infinite growth isn’t real…

[@nb5549]

It is all about greed.

[@madarauchiha2584]

This was really a good finance lesson😊

[@some1and297]

this is not financial advice...agen

[@szilagyimiklos4757]

Kinda surprised he knows all this

[@caspera3193]

Godot ftw

[@jonathancrowder3424]

Stocks seem like a bad idea that your friend would come up with and end with "idk tho"

[@Sam-vf5uc]

A note on the stock buyback part--it isn't really about scarcity per se, its more about owning a bigger fraction of the company. If you have 100 equal shares, and 80 shareholders buy 20 of those shares back, they each now have 1/80th of a company instead of 1/100th. That's the primary reason for doing buybacks, less so a scarcity effect.

[@mage3690]

Man, I wish there was a better system than the stock market, but for all my wishing I sure as hell can't think of a better one. I just wish it didn't kill so many of my favorite companies by legally forcing them to be greedy. Imagine how different the world would be if Dodge vs Ford went the other way (I still think it should've gone the other way).

[@x--.]

Stock market as an idea still seems sound. Stock market as a gambling paradise for the super-wealthy, high-frequency traders, and quarterly-earnings bonuses for executives seems to suck. In other words, it seems like the modern stock market is designed to extract value from the those less savvy or well-connected. Maybe it was always that way, though...

[@NihongoWakannai]

The problem isn't the stock market. The problem is that the company is mismanaged and instead of fixing their management structure they tried to fix the problem by acquiring a bunch of money from going public.

[@mage3690]

@@NihongoWakannai you know what, good point. I always forget that culture doesn't change overnight, despite all appearances.

[@Beuzer0]

I heard that a common practice with companies is to build it up enough, then make it public, before selling all your stocks at the highest and run away before it dies.

[@majorhumbert676]

Exactly. You wouldn't sell stocks unless you thought the stocks were worth less than the money they were being sold for.

[@k98killer]

Fwiw, Berkshire Hathaway's investments have underperformed the markets for at least a decade. Some say it is an effect of large position size making them less nimble than a smaller investor; some say the Oracle of Omaha is losing his touch. He would have been better off investing in a low-fee total return ETF. Imo if your idea of "good" is selling carbonated sugar water to diabetics, you might want to reevaluate your value hierarchy.

[@ThePrimeTimeagen]

i do agree that cocacola is not a great company. i would have to evaluate buffets position to understand if it has "underperformed" the market

[@k98killer]

@@ThePrimeTimeagen just crunched the numbers again. Berkshire Hathaway made a surprising recovery post-2020 money printing (kind of like how many of his positions would have collapsed in 2008 had it not been for the massive bail outs), and it has held up better over the past few months, but it still has not quite caught up to the broader market. Total return (including reinvested dividends), past 10 years: BRK-A: +202% (source: Yahoo finance; no dividends, so it is just price performance) SPX: +275% (source: Slickcharts; total return compounded annually)

[@dan_rad]

I'm a tech recruiter and have been working on a large Unity project recently. As some insight they charge millions for just a handful of resources from their consulting divison - I don't know what percentage of their revenue is made up from consulting fees but its another variable to throw in. They also pay very well. Not sure how much comp is in the form of stock though.

[@CT2507]

He is just going to move on to another major company and become CEO there. Remember he came from EA before he was in Unity! These billion dollars companies are one big cesspool. Just like when a major CEO of a bank fucks up and commits fraudulent activates, he just moves to another country and becomes a CEO of another big bank.

[@Fuxy22]

Meah... big deal... every time a company f's up they re shuffle their CEO's and nothing happens... the guy just moved on to another big company with his golden parachute...

[@DzintarsDev]

Sorry... 7K people for a single game engine? What engine is it? Does Nasa, ISS, Pentagon and entire government runs on it? Sounds like a Twitter case of bloated staffing and productivity imitation. I understand that games industry is not small... but... 7K developers/people for a single engine...?!

[@diegofloor]

They didn't understand their product. I don't think a game engine company can grow what they expect to grow, unless they branch out to tangential products like games, game platforms, whatever. Going public with the intention of growing to an absurd size with just an engine was stupid.

[@JustBCWi]

It's "fewer seats" not "less seats." The job of a CEO at times like this is to be fired. They probably planned his exit package before they announced the controversial license scheme. 13:10 you are agreeing with DHH here. ;)

[@newsofthenerd]

He said the stock market for normal people to get rich lol. He said that. The stockmarket. 1 the stockmarket lags behind inflation so that's just not true. Also that is assuming you are very very well educated to do this and have some luck. Because what it does is transfer dumb average peoples money to the hands of experts. So maybe he knows what he's doing or is lucky or like most gamblers believes he's winning when he's not but wow stock market for foe the average Joe wtf.

[@SomeKiwi]

I think the problem isn't the stock market, as private equity firms also drive companies into anti-consumer practices in the pursuit of the almighty dollar, the problem is greed. It feels like we've gone from a "more for more" mentality of making better shit to get more money into a "more for less" mentality where those with money are trying to extract as much money for as little effort by any means

[@0oShwavyo0]

I’m pretty sure that creating liquidity for investors is a MAJOR reason to become a public company. At least if you take VC money then they are going to push you to go public or merge with a larger company so that they can turn their shares into cash and make money on their investment.

[@bb-wb8sb]

The average person is not invested in the stock market. Wishing for the stock market to only be populated by companies that wish to monopolize is myopic.

[@jamesbrooks9321]

i loved unity before they went public, saw this sort of scenario coming back in 2020 they were doing great things and could still be a powerhouse and beloved tool without having to go into empire mode

[@nevokrien95]

The Stock market is a good way for people who have money to have more money. That makes alot of sociological issues. Including some really creative tax evation

[@dustsucker4704]

One Problem of the Stock Market: you dont got money you dont make money. That's the problem i have with it.

[@TheSkepticSkwerl]

Ones goal shouldn't be to be mega rich. Ones goal should be a system where everyone eats and sleeps comfortably.

[@awright18]

Please stop saying it's less than unreal. It's seat charges + 2.5% . Probably pretty close to unreal for if you do the math.