• derf82@lemmy.world
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    1 year ago

    Imagine cribbing notes from a guy that has seen the social network he purchased drop in value by 2/3rds.

    • slaacaa@lemmy.world
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      1 year ago

      Step 1 - buy company for billions of dollars

      Step 2 - do stupid shit with it

      Step 3 - lose billions as valuations drop

      Step 4 - ???

      Step 5 - profit, apparently

        • wwaxwork@lemmy.world
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          1 year ago

          Nah. The MySpace guy sold his company for half a billion, retired and lived happily ever after while the people that bought it off of him had to watch their investment slowly die.

          • Billiam@lemmy.world
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            1 year ago

            Yes. And News Corp, who spent $800 million on MySpace, fucked it up and sold it ten years later for about a tenth of what they paid for it. Which is the incident I was referring to.

            • wwaxwork@lemmy.world
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              1 year ago

              But the guy who created it got out fine, which was what I was referring to. Much like the Twitter creators. They understood the limited lifetime these things have and sold them to fools who thought they knew better.

            • wwaxwork@lemmy.world
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              1 year ago

              But the guy who created it got out fine, which was what I was referring to. Much like the Twitter creators. They understood the limited lifetime these things have and sold them to fools who thought they knew better.

            • wwaxwork@lemmy.world
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              1 year ago

              But the guy who created it got out fine, which was what I was referring to. Much like the Twitter creators. They understood the limited lifetime these things have and sold them to fools who thought they knew better.