Why on earth would running a service that actually costs money be a good idea for company so deep in a hole on a webservice that's comparatively free to run.
this post was submitted on 16 Apr 2024
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I doubt this was the reason. It's not stopped plummeting since day one.
Can someone ELI5 why launching a streaming platform out of all things is causing the stock to drop?
Probably because of expected expenditures; creating and hosting a streaming platform isn't cheap, and if you have a company that already seems to be floundering, announcing "we're going to spend a boatload of money we don't have" doesn't instill confidence.
It's probably unrelated. The stock dropped before and after the announcement.
An old Stock Market adage is "Buy on rumor, sell on news". It's possible that some people were anticipating a larger announcement, and sold when they saw what the announcement actually was.
Or, it just went down because it is a bad stock to own, and it's just a coincidence there was a press release at the same time.
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Ah yes, the good ol' pivot to video. https://en.wikipedia.org/wiki/Pivot_to_video
From the wiki page:
only advertisers, not consumers, prefer video over text.
This is so goddamn true it's not even funny. One thing in particular that really pisses me off is when I'm looking for a relatively simple piece of information, like how to beat a level I'm stuck on in a game, and every single result is a 15 minute video I need to scrub through in order to find the same information I could have scanned a text block for and found an under a minute.
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So, Republicans are against state-owned media, but have no problem when the President owns a media platform? Because that's what this is turning into. MAGAs are going to get their Three Minutes Hate (since three is more than two, so it's better) directly from their Dear Leader, without any other opinion getting in the way.
Please! I can only post Riker so many times before it starts turning into a thing like beans did a while back!
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