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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 2 years ago by cilantrillo to c/[email protected]

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[–] Marretics 3 points 2 years ago (1 children)

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

[–] thawed_caveman 1 points 2 years 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 2 years 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 2 years ago (1 children)

He bought ALL the shares?? Why?

[–] Spacebar 1 points 2 years ago

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