Some people on Lemmy and the old site suspect that he’s trying to tank it to shut down Left comms. I don’t. I think he’s simply inept.

I'll preface this by saying I think he's just incompetent. But possible less incompetent answers could be: It's some kind of tax dodge, can use it as a write off. Alternatively he knows it's never going to turn a profit so to minimise his losses he's trying to kill it quickly rather than having it as an albatross around his neck for years to come.