this post was submitted on 18 Jul 2023
398 points (94.6% liked)
Technology
59575 readers
3418 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Seriously, what the fuck are they thinking here? It’s like branding 101 to not mess with it unless you’re looking at rebranding
They're thinking if they don't make every last cent today their IPO will be a catastrophe and this will all be for nothing.
This is basically like a old wooden ship trying to outrun a hurricane by jettisoning everything on board that can be lost. Right now, they are not thinking long term in the slightest. It's solely about stopping that valuation from dropping, and they'll do anything at all.