read the comments. The HN community is ecstatic. It's good to see there are a few who understand basic economics but politically, the folks here at hn are not much different than over at reddit lol
It sounds unusual for a seed-stage company (I assume that’s what you mean) to seek funding from private equity. Did the company already have significant revenue and profitability? Why did the founder go for private equity rather than VC.. was the founder basically looking to sell/exit at that point?
Yeah exactly - it was essentially at the revenue of series B or C at that point. This is in 2021 during the height of ZIRP, so I assume part of it was frothiness but the aftermath was terrible.
The Age of Inhumanity... AI mimicry of human patterns devalues our very humanity. Without wise leadership, which we clearly lack, this upcoming Age will be profoundly unstable.
This risk of losing business in the EU due to regulations around data is also acknowledged by google in their recent filing.. this isn’t specific to Meta despite all the articles that have popped up about it… https://twitter.com/SMalikjo/status/1490938883760033792?s=20...
Their Q4 earnings had some conservative projections and higher expenses due to investments in building out their VR teams, and this was enough of a catalyst that the short sellers were able to create a panic.
Fine to hate the company and management, and their politics, but following the money, this seems to be a wildly successful effort to manipulate sentiment and cause retail investors to panic and benefit short sellers in the market. There’s huge money to be made by hedge funds in shorting Meta on the way down, and then buying it again on the way up.
Or maybe they’re really going down to $0 … which is more likely?
