• Mic_Check_One_Two@reddthat.com
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    3 days ago

    It was an impressively fast decline too.

    So fast that many people think they never actually intended to have it survive. They simply didn’t want to compete in the future, so they bought it before it was too big to compete with. But they had to reframe the massive purchase to shareholders as a profitable thing, so they publicly stated that they were doing it to move into merch sales.