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Reddit's unpopular changes were inspired by Elon Musk's layoffs & cost-cutting (twitter.com)
submitted 3 years ago by to c/lemmyworld@lemmy.world
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[โ€“] 47 points 3 years ago (8 children)

Imagine cribbing notes from a guy that has seen the social network he purchased drop in value by 2/3rds.

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  • [โ€“] 17 points 3 years ago* (last edited 3 years ago) (7 children)

    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

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  • [โ€“] 7 points 3 years ago (5 children)

    AKA "How to MySpace your social media site."

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  • [โ€“] 13 points 3 years ago (4 children)

    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.

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  • [โ€“] 9 points 3 years ago (3 children)

    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.

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  • [โ€“] 6 points 3 years 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.

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  • [โ€“] 2 points 3 years 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.

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  • [โ€“] 1 point 3 years 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.

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