this post was submitted on 30 Jun 2023
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Honestly they do it so consistently that i'm starting to wonder if they have a choice.
A common way to do things for tech startups is that they get venture capital funds, use them to run the business at a loss hoping to acquire market dominance, and then use market dominance to turn a profit. I think a lot of tech startups that we know are currently in phase 2, meaning they've thrown money out the window for years and are now trying to recoup their investments.
Also, Reddit wants to go public and Twitter already is. This is relevant because investors are animals, all they see is short-term profit, and they use their voting power to make the company behave that way.
There's a common thread between both my theories: it's shareholder capitalism. I say this as a lifelong shareholder myself, shareholders ruin everything.
Twitter ist public? I thought it's Elon's private property now, no public trading any more.
I think Elon just bought majority, like 51% of shares or something. I don't really remember it's been a while
No.
He bought ALL the shares?? Why?
That's the only way to take a public company private. It was a terrible idea, but he did it.
Are those kinds of numbers publically available? Im guessing no but they would be interesting to see.