Re:Substack is laying off 14% of its staff
by rchaud on Wednesday June 29, 2022 @05:48PM
(#31926118)
Simple answer: it's not.
Same way that WeWork was 'valued' at $50bn, before they revealed their full financials to the public. Then the IPO collapsed; the company was worth $10bn tops, and most of that is in assets they purchased during Softbank's dalliance with Adam Neumann.
The same Adam Neumann that Substack investors A16Z have given $70m to to develop a carbon credits trading blockchain. I shit you not.
Same way that WeWork was 'valued' at $50bn, before they revealed their full financials to the public. Then the IPO collapsed; the company was worth $10bn tops, and most of that is in assets they purchased during Softbank's dalliance with Adam Neumann.
The same Adam Neumann that Substack investors A16Z have given $70m to to develop a carbon credits trading blockchain. I shit you not.