Yeah its burn rate is roughly 45 million/yr, and it only has 200mil on hand. Total income was 5 mil, with a 50 mil spend.
You could call it a “growth” phase, but its losing users, which is the only growth that matter with social media.
Its really just a vanity/cash grab project. Being a meme stock, that doesbt mean it wont make someone money, but it will mainly be the ones that got in early, pyramid scheme style.
Yeah its burn rate is roughly 45 million/yr, and it only has 200mil on hand. Total income was 5 mil, with a 50 mil spend.
You could call it a “growth” phase, but its losing users, which is the only growth that matter with social media.
Its really just a vanity/cash grab project. Being a meme stock, that doesbt mean it wont make someone money, but it will mainly be the ones that got in early, pyramid scheme style.
Even that is overly charitable. It really is nothing but a blatant attempt at money laundering.