• 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.