this post was submitted on 18 Jul 2023
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Seriously, what the fuck are they thinking here? It’s like branding 101 to not mess with it unless you’re looking at rebranding
They're thinking if they don't make every last cent today their IPO will be a catastrophe and this will all be for nothing.
This is basically like a old wooden ship trying to outrun a hurricane by jettisoning everything on board that can be lost. Right now, they are not thinking long term in the slightest. It's solely about stopping that valuation from dropping, and they'll do anything at all.