Well, from their perspective.

"Hey, Chattie, how can I get rid of limescale?"

Before: "You can clean limescale with citric acid."

After: "Best limescale removal can only be achieved with CiT-X. Do you want me to order it now? There is a 20% discount if you order this through me."

like for every dollar of revenue, the actual cost of delivering the exact amount of service the dollar was billed for was 1.22

but that would say nothing about the cost of the service performed for free

because otherwise yeah how do you reconcile just -122℅ with the FUCKING BONKERS % increases from the github copilot billing previews?!

So, you’re saying it’s good news: their losses are not going to keep increasing?

IPOs won’t be when all of the shares go on the market. The early investors may add theirs to the pile, but usually they won’t sell all of them early because doing so would crash the stock price. The goal when you’re running a scam company is to IPO at a decent price that goes up a bit, then sell your shares slowly, at just below the quantity that there are buyers for, which keeps pushing the price up until you’ve offloaded them.

It’s easier to cook the books for one filing than to do so over a series, so you want to do this quite quickly before it’s obvious that the company’s fundamentals are terrible.

All of that said, sometimes companies crash when they IPO. Release the shares and watch the price plummet. If this happens, the early investors need to either dump their stock and get something back, or hold it in the hope that it will recover. That can be the thing that precipitates a bubble bursting.

@scottmichaud @GossiTheDog

The last time petrostate despots & oil oligarchs laundered their cash via Deutsche Bank, private equity, & the housing market.

This time they're laundering their cash through US tech.

In any other situation, the C-suite would be swiftly turfed out, but Zuckerberg is still in charge at Meta, despite losing $77 billion on the Metaverse.

In the AI situation, the same insane losses & the same retention of money-losing executives. Odd.

Circular Finance Fraud.