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I understand that large social media companies are expensive to operate, but THIRTY MILLION DOLLARS A YEAR? What are those morons doing?
30 million is actually a lot less than I expected. Although I suppose they are still a quite small site.
Online services like Spotify are still burning cash flow to the tune of €450m a year. Most all of these “user free” sites have been built on flaming stacks of VC cash over the last 20 years.