this post was submitted on 04 Jul 2023
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[–] MerliSYD@lemmy.one 29 points 2 years ago (1 children)

LOL... Who would buy into their IPO now? There's a HUGE risk of this going to zero.

[–] Polydextrous@lemmy.world 24 points 2 years ago* (last edited 2 years ago)

I think we’re going to see a figurehead change before the IPO if things continue this way. Spiz will “step down” (he’ll probably be bought out, which might be what he’s angling for at this point, talking about wanting to emulate Elon? The most obvious and egregious example of massively and publicly fucking up a social media site??) and the company will put out a statement of “changing course,” basically just muddying the waters about what’s actually happening (while most likely nothing will actually change), say that they’re going to try to fix this fiasco.

It would kill the protests. And that way they can either run out the clock and settle things down before the IPO, or they can put out some vague change that would figuratively make the API more accessible/affordable. But nothing would actually change in the latter scenario, they’d just make a lot of noise about being reasonable while not actually changing anything. Their value could inflate again, protests are quelled due to loss of momentum/loss of popularity, pizzle gets a golden parachute, the company goes public and banks, VCs roll in piles of money, etc. etc.