Hundreds of people are putting money on whether the company will back-track on its new API pricing policy or oust its CEO Steve Huffman, BetUS told Insider.
The online betting company said there was “very close heat” over whether Reddit will reverse its new pricing policy.
“So far, the betting public seems very much “at odds” and are undecided on this one so far,” it said.
Almost all bets have been on Huffman still being CEO by December 31, BetUS added.
Why would he get ousted? It’s not as if Reddit has a board of directors.
People just like to gamble I think. It also said they betting on whether Apollo will shut down which seems pretty cut and dry to me.
Maybe we should bet against them…
This is actually damn great. It makes pre-IPO Reddit Inc. shares worth less and less, as more people join those bets.
Investors weight the risk before pouring money into a company. The higher the risk, the cheaper must be the investment in relation to the expected profit. And having people publicly placing bets on the fate of a company screams “you’re playing Russian roulette with your money!” from afar.
That’s a good point. This really isn’t going how they planned eh
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