Their financial instruments are so byzantine and dynamic that probably only one of their quants could tell you. It's probably less than could be hoped, given the level of corruption inherent to the system. Remember that literal crime is profitable even when you get caught, in Wall Street.

I'm so much happier without it. Having a big number next to your name is such a tired little ego trip

I attribute the perceived fading momentum has a lot to do with Reddit itself. There's a reason wall street wants a piece of reddit, and it has nothing to do with however profitable "making redditors look at ads" is.

A distant cause is likely the changes in monetary policy (rate hikes). The tech sector has been structuring their capital as if borrowing would always be cheap, and they were unprepared for a sudden flight toward sustainable cash flow.

I think their only hope for "fuck you money" at this point is to cash out at IPO and watch it burn.

Genuinely gross. They could have built their own community here and acted as leaders, instead they're tightening their grip on a weak power trip.

649, next stop 741.

Is 741 still a thing?

Welcome! I feel the same way. I hope we didn't have any bad blood back on SS, I tried to be nice but grumpiness occasionally gets the better of me. Same handle.

Continue to recall that when one person snaps up all the shares of a company at once, that company continues to trade. What we are testing is what happens when you distribute that process over many thousands of people and many thousands of transactions.

He bought it to completely destroy it because it was one of the few big social media platforms that didn't give a distinct advantage to RWNJs.

It's weird to me that this isn't more commonly believed, because his main aim with all this is to make America more oligarchic (i.e. great again) and become an oligarch, as is the fashion among rich white supremacists.

Not to get political.

Tangentially, does anyone know why we stopped having cool words for different kinds of software? We used to have daemons and wizards. Now everything's an app, and it's lame.

I have like three different instance accounts with the same handle - great for days when .world is on the blink. Really happy with the resiliency of the broader federated community.

We should should make them tackle inequality and then bring out the pitchforks. "You paid the bill but not the interest, bitch!"

Welcome!

At this point... is he just burning jet fuel to amuse us?

I heard Boost is working on a Lemmy app, which is great - but I liked RIF too.

Hell yeah brotherrrrrr

Reminder that "systematically important financial institution" is a regulatory term that exists because these banks are "too big to fail".

Reminder that if we cannot allow an institution to fail at any cost, but also cannot stop them from committing large-scale fraud like this, they are in charge - period.

That is the definition of moral hazard. There is no scenario where "not committing crime" makes them richer, ergo crime.

"We feel that any possible rumors and Streisand effects of a 50 year ban are far exceeded by how bad things actually are. Thank you for the chance to be a mattress-fucking sock puppet on Lemmy."

• CS Execs, probably

Belated welcome!

No mystery there. Good video.