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Riot Games is profitable, so this is about increasing profits. EDIT: As several people have noted, while Riot Games is private, their majority owne (Tencent) i
by gamblor956 3y ago
Riot Games is profitable, so this is about increasing profits.
EDIT:
As several people have noted, while Riot Games is private, their majority owne (Tencent) is not. According to Tencent's most recent filings, video game revenue is up by double-digits and they reported profits in the past.
Unless Riot is claiming that they increased expenses by double-digit % in Q4, they are profitable.
- brianwawok 3y agoWhy wouldn’t they want to be as profitable as possible? They aren’t a charity.
- hakdbha 3y agoThat’s true. Riot games isn’t a charity, but workers and their families certainly are. Clearly we must sacrifice grandma in a glorious email layoff ritual for both the economy and a sweet C-suite end year bonus
- bcrosby95 3y agoAnd snatch the profits end-of-life care companies are supposed to make from grandma? Yeah right. I wonder if being an adult has always felt like, financially, being placed in the "rack" torture device. These days it feels like I'm being stretched from all directions.
- Sebguer 3y agohttps://www.youtube.com/watch?v=hvk_XylEmLo https://www.youtube.com/watch?v=hvk_XylEmLo was a really good overview of how and when this changed, in terms of labor.
- alchemist1e9 3y agoThe vilification of capitalism is so unjustified. Everyone who does it should first listen to Milei’s recent speech [0] and then try to coherently explain which of any of the anti-capitalism policies they support have any empirical evidence to justify them. [0] https://x.com/aphysicist/status/1747868626948907325 https://x.com/aphysicist/status/1747868626948907325
- pxndx 3y agoI vilify capitalism because it makes kids work in coal mines. Is that unjustified?
- alchemist1e9 3y agoCapitalism didn’t invent child labor, but it did help end it. While socialist regimes like the Soviet Union exploited child labor extensively under the guise of equality, it was the economic growth fueled by capitalism that empowered societies to enact labor reforms. The wealth created by free markets enabled the development of laws that protect workers, proving that capitalism is a solution, not the problem.
- hakdbha 3y ago[dead]
- msie 3y agoGotta juice that stock price!
- travem 3y agoI do not believe Riot Games is publicly traded. Tencent do own a large stake however along with their stakes in other gaming companies
- blamecanada 3y ago100% is definitely a large stake
- Rebelgecko 3y agoWhose, Tencent?
- mcmcmc 3y agoGot a source for that? They’re a private company, unless you have access to non-public financial info it seems like you’re just making an assumption.
- Q6T46nT668w6i3m 3y agoRiot Games is a subsidiary of Tencent.
- mcmcmc 3y agoOkay, and does Tencent publish a P&L for Riot Games? Or are you assuming that if Tencent is profitable that means all of their subsidiaries are profitable? If you read the actual press release you’ll see Riot doubled headcount in the last few years. Highly doubtful their revenue growth kept up with their growing labor costs. Overhiring during the pandemic is a much more likely root cause for layoffs rather than management just trying to juice the profit margin in a market downturn.
- lebean 3y agoUnbelievable! They're profitable!? That's rare these days.
- alchemist1e9 3y agoPlease educate yourself properly and try to understand capitalism the single biggest force behind the improvement in the human condition. Vilification of profits is a disgraceful attitude. https://x.com/aphysicist/status/1747868626948907325 https://x.com/aphysicist/status/1747868626948907325
- ClumsyPilot 3y agoI am amazed by this shameless appropriation of credit for scientific breakthroughs and peddling of a self-congratulating fantasy. Nicola Tesla was a successful capitalist? Isaac Neuton? Leu Paster? What about the guy that invented penicillin? Without capitalists, progress reaches the masses a bit slower. Without scientists, capitalists would still trade sheep, live in huts, and wipe their ass with tree bark.
- alchemist1e9 3y ago> I am amazed by this shameless appropriation of credit for scientific breakthroughs and peddling of a self-congratulating fantasy. I am amazed by the shameless disregard for empirical facts and data and hard historical evidence. I’m not shameless the anti-capitalists are. Here is a book you might be interested in: “Envy: A Theory of Social Behavior” by Schoeck That can help explain this very common destructive human instinct towards collectivism in general. and here is an examination of the most failed idea in human history - socialism: https://iea.org.uk/publications/socialism-the-failed-idea-that-never-dies/ https://iea.org.uk/publications/socialism-the-failed-idea-th... It’s outrageous and shameless to vilify entrepreneurs legitimate and ethical pursuit of profits.
- mcmcmc 3y ago> ethical pursuit of profits. There’s the sticking point. Way too many unethical capitalists, and without strong enforcement mechanisms those bad actors simply concentrate market power and actually break the capitalist system you’re so ready to cream your jeans over. Edit: also after having looked up that book, not sure if some Freudian level psychobabble making sweeping claims about human emotion and motivation is really that great of an argument for unrestrained capitalism.