Impact is already more than evident through search results. Google has had to tweak their search functions because of this and Microsoft pulled out from Minecraft subreddit, and both made sure to announce to the world that it’s because of spez and the protest.

I would agree. injects the poison more deeply than it would have otherwise gone.

doing something > just complaining

Nah. Doesn’t even account for the protest.

FTA:

this most recent valuation only accounts for the worth of the company’s holdings up to May 31.

They are PROPER fucked for Q3.

Nope, this is only though May 31st, per the article.

Reddit was already bleeding value and Spez went on a panicked power trip. The true Musk way.

The IT tech industry isn’t doing great currently. Everything was fine as long as there were a practically infinite amount of money going around, but lately investors have been increasingly demanding signs of profitability over “limitless” expansion and growth.

That’s why a lot of companies have been doing these seemingly drastic changes lately. It may absolutely result in long term damages, but that is not their main concern at the moment. In some cases this is also somewhat a moment for these companies to show their cards and prove that they actually deserve the evaluation that they been given. I suspect that there will be quite a lot of agitated people in the coming months and years.

Remember that there is a general decline in tech stocks at the moment. A few names are being elevated by the AI boom, but for the most part the party has been over for quite a while now. If you keep an eye open, you’ll see stories about a number of different tech stocks declining.

Every time I see such a story, I tend to reply with “why would Elon Musk do this?” Since people acted like Twitter was a unique case being caused exclusively by his leadership, but we’ve seen massive declines in many companies including Meta and Netflix.