this post was submitted on 30 Jun 2023
480 points (99.0% liked)
Asklemmy
43989 readers
1573 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy π
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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.