this post was submitted on 01 Jun 2026
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[–] fpslem@lemmy.world 5 points 21 hours ago

I assume they are all running for the public exit because they are losing money faster than they can raise it and don't have any reliable business models to which they can transition in the near term. If they can't become profitable, the next best thing is to go public while the hype is hot and to cash out ASAP.