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I´ts interesting, however the idea of Reddit to allocate 10% of their shares back to the Reddit community for me it´s more than something "cool" as Sam Altman s

I´ts interesting, however the idea of Reddit to allocate 10% of their shares back to the Reddit community for me it´s more than something "cool" as Sam Altman said, and beyond the "a new way to think about community ownership". From another perspective, It´s just a good strategy to do your own IPO (go public) without the legal/bureaucratic way. It´s creating your own NY Stock Exchange with the idea to increase your value based on what your users are doing now (because it will be possible to buy, sell and trade between users). So, beyond the message that it´s for “giving back to the community”, Is it more a clever strategy to increase the company value, and even more the stockholders value? or I´m incorrect?

exelius 12y ago
Everything you said is totally true, which is why the SEC will block it. The most they could do is set aside 10% of the shares and let users proxy vote them, but I don't think that using them to back a cryptocurrency is going to fly with the SEC. I know a lot of people like Bitcoin because it's magical internet money with no rules, but financial markets are regulated for a reason. I don't think the SEC would have a problem with the method (using a cryptocurrency) but rather the reason (using a cryptocurrency to avoid SEC IPO/ownership rules). If Reddit were public, I don't see a problem with using their stock to back a cryptocurrency. But it's a loophole big enough to drive a truck through, so the SEC needs to close it before the con men descend.