Asklemmy

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Why do so many tech companies, like Reddit and Twitter are making their platforms worse for their users all of a sudden? (self.asklemmy)

submitted 1 year ago by cilantrillo to c/[email protected]

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[–] Marretics 3 points 1 year ago (1 children)

Twitter ist public? I thought it's Elon's private property now, no public trading any more.

[–] thawed_caveman 1 points 1 year ago (1 children)

I think Elon just bought majority, like 51% of shares or something. I don't really remember it's been a while

[–] Spacebar 2 points 1 year ago (1 children)

No.

Musk, who posted a tweet saying “the bird is freed” in reference to his ownership of the micro-blogging site, owns all the shares in the site once payments to shareholders was finalized. Trading in the shares on the New York Stock Exchange has been suspended, meaning no new purchases of the stock can be made.

[–] thawed_caveman 1 points 1 year ago (1 children)

He bought ALL the shares?? Why?

[–] Spacebar 1 points 1 year ago

That's the only way to take a public company private. It was a terrible idea, but he did it.