• @thawed_caveman
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    1410 months ago

    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.

    • @Marretics
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      310 months ago

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

      • @thawed_caveman
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        110 months ago

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

        • SpaceBar
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          210 months ago

          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.

            • SpaceBar
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              110 months ago

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

    • @PlaidBaron
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      110 months ago

      Are those kinds of numbers publically available? Im guessing no but they would be interesting to see.