Mutual fund Fidelity, which owns stake in social media platform, marks down value of its shares in disclosure obtained by Axios
Amju Wolf
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91Y

As easy as it is to hate what he did to Twitter I wonder how much of that original value was just “VC hype” and now people see it for the failure it has always been like all social media in a way. Turns out it’s pretty hard making money out of non paying users.

@A1kmm@lemmy.amxl.com
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181Y

I think alienating all the advertisers probably didn’t help much either.

Man now I’m wondering who are the nerds holding up that last 29% of value it has. i can’t imagine that many people paying for verification.

Whoever you are: just let go~ let Xitter sink unceremoniously into the abyss~

@ExLisper@linux.community
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1Y

The original value was based on ad revenue which is down now. It has nothing to do with VC hype or non paying users.

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