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<blockquote data-quote="monkeylove" data-source="post: 1060279" data-attributes="member: 19756">According to their financial reports, it was losing from the start, and when it earned big, it also lost big.I think the ones who valued it included his fellow co-owners, including Wall Street banks. It looks like he accepted the higher valuation because that was the only way they would sell, and they did. This time, he did not bring in other investors because they would be the same former owners.Meanwhile, before he bought it, Reuters reported that advertisers were pulling out because of child porn.Given that, I&#039;m guessing that he bought it and rebranded it &quot;X&quot; is because he&#039;s reviving a plan he had back in the 1990s to form a financial platform called that. But this time, it looks like he&#039;s creating a multi-function platform involving social media, photos, video, audio, financing, and commerce. Meanwhile, he brought in a CEO that works with the WEF and the advertising industry. (It&#039;s even possible that the company might even create its own ad agency.)Meanwhile, Meta and others appear to do similar. Before that, they all overvalued themselves, hoping to earn from investments coupled with advertising, which has gone in decline. That&#039;s why they&#039;re focusing on subscription to cover operating costs plus work with economic blocs demanding privacy, minimize &#039;bots, deal with problems concerning copyright, etc.</blockquote>

[QUOTE="monkeylove, post: 1060279, member: 19756"] According to their financial reports, it was losing from the start, and when it earned big, it also lost big. I think the ones who valued it included his fellow co-owners, including Wall Street banks. It looks like he accepted the higher valuation because that was the only way they would sell, and they did. This time, he did not bring in other investors because they would be the same former owners. Meanwhile, before he bought it, Reuters reported that advertisers were pulling out because of child porn. Given that, I'm guessing that he bought it and rebranded it "X" is because he's reviving a plan he had back in the 1990s to form a financial platform called that. But this time, it looks like he's creating a multi-function platform involving social media, photos, video, audio, financing, and commerce. Meanwhile, he brought in a CEO that works with the WEF and the advertising industry. (It's even possible that the company might even create its own ad agency.) Meanwhile, Meta and others appear to do similar. Before that, they all overvalued themselves, hoping to earn from investments coupled with advertising, which has gone in decline. That's why they're focusing on subscription to cover operating costs plus work with economic blocs demanding privacy, minimize 'bots, deal with problems concerning copyright, etc. [/QUOTE]

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