We will truly live in a world where 95% of games are based on Unreal Engine, 4% on Godot or GameMaker Studio, and 1% custom engines.
Which is such a shame… When Unreal does something bad, like absolutely messing up shader compilation, pretty much all games start suffering with this for years. And there are some amazing engines out there… Resident Evil’s scales surprisingly well and looks way better than it has any right to.
It only looks like insider trading if you forget the definition of insider trading and only read a headline curated to ignore the important details that show small, consistent sales across time regardless of company activities.
Well yeah of course I didn’t read the article. I don’t give much of a fuck about it. I took the headline at face value (“sold stock days before announcement”) and fired off my Lemmy content into the ass crack of this butt land. You’re welcome.
Insider trading is the trading of a public company’s stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company
CEOs have to schedule their sales many months ahead of time. Also, it was 2000 shares, which is peanuts.
The article is focusing on this guy because people know who he is. Instead, they should be focusing on the board members who sold tens of thousands of shares right before the announcement. From Kotaku:
Tomer Bar-Zeev, Unity’s president of growth, …sold 37,500 shares on September 1 for roughly $1,406,250, and board director Shlomo Dovrat, who sold 68,454 shares on August 30 for around $2,576,608.
Also, I actually didn’t know this until yesterday, but CEOs are also permitted to buy shares of their own company, so long as they clear the purchase with the SEC. But that would indicate they’re optimistic about their company…
Looking at steamdb, it used to get discounted every other month. I guess they forgot about it since the sequel came out or want to milk the players who want to play the first first.
These stories are so dumb/intentionally misleading/outrage bait.
Executives have predefined stock sale schedules at regular intervals. This allows them to convert their equity to cash and avoid conflicts of interest. That is, it’s hard to gain an advantage over the market when you sell exactly the same amount every month for the next 4 years.
Where was everyone’s outrage the other 99% of times this guy sold exactly the same amount of stock?
Seems like if they wanted to avoid this sort of suspicion, they’d time the announcement for either right before or nowhere near when the scheduled sale would take place.
But then they wouldn’t get to feel like a Bond villain, so…
Yes, hypothetically the CEO could influence the date an announcement is made for their own personal gain, but it’s not worth it and there will be many more sell events in the future.
Long run, trying to scheme an announcement to gain more at 1/100 sales isn’t worth it.
CEO John Riccitiello shifted 2000 shares last week on 6th September, … part of a trend over the past year where the exec has sold more than 50,000 shares in total and bought none.
This is a drop in his equity bucket and any gains this article implies are due to “insider trading” will disappear in subsequent events.
maybe I pick this up now, never bothered much about Cyberpunk after they botched the launch and it still does not impress me very much…well winter is coming so we will see if it can compete with Baldurs Gate or Guild Wars 2 😅
Could he have timed the announcement around his sales, or would that be something that legal would have to have ensured wasn’t happening?
If this was ongoing and regular for years then yeah it’s nothing. If there are protections in place to ensure announcements aren’t timed around the schedule then that’s even more nothing (as long as it can be proven that procedure was followed).
It still seems like a system that can easily be manipulated, but yeah if it’s legal then it’s legal and there really can’t be any punishment regardless of ethics or optics…
Damn that’s a good question. I honestly don’t have an answer. I’m not high enough level to that type of validation. Basically I have enough knowledge to insider trade but not enough to influence a decision such as changes in pricing or when something will launch.
I have windows in much I can sell and have to schedule my sales in those windows six months in advance.
It’s really stupid since I’m trading small dollar amount. 20k a year give or take but the company I work for takes it seriously.
It’s cool to see ARM-based chips running these games, but I’m opposed to Apple’s proprietary Metal API being utilized, requiring developers support another API to reach this new audience.
I imagine this move will translate to their Vision Pro headset, which I think needs a VR game library to prove successful.
Why? They got so badly burned on OpenGL, with the committee dragging their feet & releasing compromised designs while Direct3D became a lot better, that they should’ve stuck with QuickDraw 3D back in the aughts.
I hope other devs chill out with ray tracing, especially with unreal engine. We’ve seen very rare implementations of it on current consoles that actually are desirable (Metro Exodus, Spider-Man/R&C, Doom Eternal) and all are on bespoke engines that don’t upscale from sub 1080p (maybe not Metro Exodus).
Unless the developer opted out of allowing their iOS app(s) to run in macOS, which, unfortunately, many top games did. And of the games that were made available, there are those that only have touch controls, which are awkward at best and impossible at worst on macOS.
First thought: If this was done on purpose, don’t these people know how many bigwigs get caught. Like, all the time. Even martha stewart got caught. Jeeze.
Why would they think they would special? One would think they would give it up at this point.
Second thoughts: if CEOs, etc, keep this up, it makes me wonder how many people get away with it all the time, for them to take a chance like that.
Third thought: they really think the consequences for insider trading are less problematic to them than facing jail, and paying a fine up to, what, 3 times the amount they made? That makes no sense. Back to the second thought, I guess.
They keep doing it because they know they’ll probably get away with it, and if they get caught they’ll get a slap on the wrist. Martha Stewart went to jail for perjury, not insider trading. If she hadn’t lied she probably would have just paid a fine instead of going to jail.
Reality, is this happens SO OFTEN it is like “speeding” is to normal people… all the CEOs do it. After awhile, they do it worse, eventually you have few doing 100+ mph or someone gets killed. Then the government steps in…
Everything will be damaged as “Line Go Up” becomes every industry’s mantra. Nothing will get better, expect worse and worse product quality on average.
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
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.
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.
The insider transaction history for Unity Software Inc shows a clear trend: over the past year, there have been 49 insider sells and no insider buys. This could be a red flag for potential investors, as it suggests that those with the most intimate knowledge of the company's operations and prospects are choosing to sell their shares
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.
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.
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.
eurogamer.net
Aktywne