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by guidovranken
1960 days ago
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Theranos is the most extreme example of blowing up the hype to biblical proportions while producing absolutely nothing and while the company is now defunct, Holmes was a billionaire for years. She got a lot out of it. IBKR banned trading Gamestop. It did almost nothing to IBKR stock and it's currently at a near ATH. TWTR took a plunge after purging accounts including Trump's, but is now at a 5 year high. Before there was ubiquitous internet access, a scandal could terminate a company. News Of The World went out of business after hacking people's phones and engaging in other unsavory practices. But a lot of these global internet companies 1) have a potential market of up to billions of users 2) are quasi-utility companies in that they provide more or less essential services (communication, search, payments, investing). They are almost to big too fail and the Gamestop incident will probably be a nothingburger in the greater scheme of things. |
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