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Reddit enrages users again by ditching thank-you coins and awards (www.businessinsider.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Reddit enrages users again by ditching thank-you coins and awards::Reddit, which is still dealing with the fallout from its last controversial decision, said it plans to phase out coins and awards.

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago) (1 children)

Definitely not. Here's the breakdown of the $44 bn purchase:

$5 bn from other investors, including a Saudi prince
$26 bn from Elon, underwritten by stocks in Tesla (which significantly dropped in value after the purchase)
$13 bn in a loan that Twitter took out to buy itself on Musk's behalf.

Twitter could hardly pay the interest on that $13 bn, even before Musk tanked the company's revenue. Either Twitter steps into line and gets more investment from right wing control freaks, or it dies - both could be seen as a win in the eyes of Peter Thiel or the Saudis.

[–] [email protected] 2 points 1 year ago (1 children)

don't you mean billion?

[–] [email protected] 1 points 1 year ago

I did, thought I'd edited out all the "mil"s hah. Thanks, fixed now.