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Someone always benefits when public companies go bankrupt or lose value, so yes.
Honestly, the part I don't get? That they didn't wait to start self sabotaging the business after the insiders had been able to offload their positions in an IPO.
Like, the usual way to do this would have been:
IPO at status quo Redditors buy shares Insiders sell shares and open shorts Reddit begins to implode itself Redditors hold bags, insiders laugh from their yachts
Who, at this point, is going to buy into reddit's IPO?
Oh right, that is definitely how they should have done it.
This is exactly what I mean,, this route of self-destruction makes zero sense.
Maybe the same investors who bankrolled Musk’s takeover of Twitter?
It wouldn't surprise me if the investors behind the scenes aren't already interviewing spez's ouster without his knowledge.