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How is anyone expecting to sell shitty non-federating Mastodon instance truth.social to the stockmarket for billions of dollars? It doesn't have a business model, it is not cash flow positive.

Is it a classic pump and dump scheme with market cap shenanigans like these DWAC people created their company, issued themselves 50 million shares and then they bought a handful of them from each other for 40 dollars a piece?

More fraud to pay for the previous fraud?

in reply to clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›

clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›
clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›
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Listen, a Fediverse server doesn't have to have a business model, you can just set it up and run it. It can have a business model if you want to, or a community model. You can run ads, you can have a Patreon, etc. People find ways, or they pay out of pocket because they want to run a server. It's all good.

But if they want to sell it for billions of dollars they'd better have a business model. Or, if you want to *look* like you're selling it for billions of dollars you can set up a special purpose acquisition vehicle and run it like a shitcoin. That *has* to be what they're doing here.

Or they expect they can trick MAGAs to buy it at the listed price, which, you know, maybe they actually know they can do that. Because it's not a donation, it's an investment in something concrete and also America's future? Maybe that's how they sell it?

in reply to clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›

jay 🌺
jay 🌺
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I'm reminded of Germans buying Deutsche Telekom-Aktien en masse 1996, 1999 & 2000, that are still worth less than when they were issued. It was the first time a large part of the public got into stock markets, and they got *burnt*.
in reply to jay 🌺

clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›
clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›
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@jay 🌺:disabled_heart: Swedes bought Telia shares around the same time. I sold them within a few years at a loss, but Telia exploded with their international expansion in the decade after, and by being one of the handful of true internet backbone companies of the world, so imagine that those who held on made a good buck.
@jay 🌺
in reply to clacke: exhausted pixie dream boy πŸ‡ΈπŸ‡ͺπŸ‡­πŸ‡°πŸ’™πŸ’›

gunnar
gunnar
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It's just how stupid the capital market is... That platform has no growth and will never make profit. But there are other things in the package I guess. Did not bother to look at that mess but maybe someone will enlighten us.
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