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this post was submitted on 19 Jul 2023
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Technology
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@rainpoint @RealAccountNameHere Their venture investment has dried up after they used their last round of ~$250m to more than double their workforce in less than two years in a drive to capitalise on crypto shit. Now they've had their valuation roughly halved and are left in a really tricky position, desperately needing to monetise to survive.
Spez was chasing an IPO in all the ways you'd expect of a modern techbro, completely misreading the NFT craze and the impact of enshittification.