[matthewdgreen]

Twitter already had a large community and set of creators while Clubhouse really didn't. Moreover, most of the Clubhouse users already had Twitter accounts and just switched their audio conversations to Twitter Spaces once that product became available.

I think at this point it's obvious that Clubhouse was not worth $4B (10% of Twitter's final sale price!), so no point in arguing about that. The interesting question is: what combination of bad judgement and groupthink made anyone think it was in the first place.

[adra]

In a world of fast and loose cash, people find justifications for spending fast and loose. I don't think it requires too much more than that. Crypto firms running on good will and hype managed to get billions of $ (in crypo-bucks) to dump their money, much of which is completely gone. You could argue overvalued, but in the world of pets.com, this is far from the worst example of outsized speculation.