[…] a dearth of profit this late into its existence portends the lack of a real business model, suggesting it’s still not ready for public company life.

  • TheaoneAndOnly27@kbin.social
    0·
    9 months ago

    This is going to be like Robinhood all over again. It’s going to go public. It’s going to shoot up in valuation, insiders are going to sell, and then it’s going to crash back down.

    • TropicalDingdong@lemmy.world
      0·
      9 months ago

      then it will go back up because people are too fucking lazy to leave a predatory piece of shit product even if they know better.

    • FlexibleToast@lemmy.world
      0·
      9 months ago

      That’s almost every tech company. IPOs are designed to make the rich richer. They get early access which drives sales, others buy into the hype, and the early access people cash out.

      • ChicoSuave@lemmy.world
        0·
        9 months ago

        The IPO is the venture capital selling their stake to the public. The private investor who footed the bill makes all the money while the person who had the idea and built the product gets whatever the VC let’s them have. An IPO is simply the rich people selling when they have a minimum viable product with a financial return model that isn’t net negative. They don’t care about their investment, just the return.