> The company and existing investors sold shares at the IPO price of $33 per share. Quite the pop.
should be criminal to IPO a company for that low knowing the what the price would do. i’m guessing the underwriters made more than the company (again).
eventually they’ll (silently) remove the notice about the photo being immediately deleted after verification. then they’ll silently remove the notice about opting out.
Meta has a lot of users (for better or worse). AFAIK they give away all the current “AI” features for free (via ads) like all of their products, right? That must take an enormous amount of compute to be able to offer all of their users the ability to generate AI Slop at any time… there’s no way they can continue to do that with anything close to a “super intelligence”, right? Do they have that much faith in ads?
That’s exactly why he published this. To justify his insane investment spend. I am not sure if investors will continue to give him a blank check. He’s not spending his money. He’s spending shareholder money to pursue personal projects and endeavors.
> I am not sure if investors will continue to give him a blank check.
What are they going to do, exactly? They explicitly invested in the company knowing that Zuckerberg would retain full control.
If they can show gross negligence there may be a legal avenue, but it would be pretty hard to justify chasing potentially profitable business ventures, even if they end up failing, as being negligence. Controversial business decisions are not negligence in the eye of the law.
Sure, they can sell their interest in the company — if someone else wants to buy it — but that just moves who the investor is around. That doesn't really change anything.
Well, very true. They let him spend $100B plus on a mediocre VR devices that’s not improved all that much under Zuck. I keep thinking, what if they took that $100B and invested in Nvidia.
Hindsight is 20/20, I suppose. Not much they can do now, though, except sell their interest to someone else. But why would someone else want to buy their interest when that someone else could use the same money to buy a stake in Nvidia instead?
_good_. the average person is struggling to feed and shelter themselves and we’re worried that if we don’t coddle the rich the economy will collapse. let them leave and we can rebuild a society that supports everyone.
Wrong, our society is here to support pensioners (one fifth of the population) and those on disability benefits (one quarter of the working age population). Every millionaire that leaves, leaves a disproportionate hole in the amount of tax collected and we borrow more to cover the gap. This will continue until the IMF is forced to step in.
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