• mosiacmango@lemm.ee
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    7 months ago

    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.

    • grue@lemmy.world
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      7 months ago

      Its really just a vanity/cash grab project.

      Even that is overly charitable. It really is nothing but a blatant attempt at money laundering.