1)Me- "If you know, ... • 11h
The guy overspent so much on advertisers, even as AI was eclipsing his outdated delivery model. He continued to claim (naively or falsely) to investors, that his user base have no option but to stay. The user behaviour did shift so much and the value he created was rapidly draining. So rapid that the debt-revenue-expenditure gap was never going to be plugged. But then the guy started taking billions of dollars in loans; whereas a lean restructuring and scaling down, was the honest and responsible thing to do. Investors were irate but nobody was trying to knock him off his pedestal. He is not a fraud, but a victim of his own success, insofar as it made him blind. Got to learn when to hold and when to fold...
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