Reddit's unpopular changes were inspired by Elon Musk's layoffs & cost-cutting

concealmint@lemmy.world to Lemmy.World Announcements@lemmy.world – 546 points –
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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

AKA "How to MySpace your social media site."

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.

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.

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.

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.

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.