Yeah, no one is saying they aren’t but these “major” losses aren’t. The top 1% of wealth owns over 50% of the market the bottom 50% owns less than 1%. To a vast majority stock losses aren’t meaningful until it affects their job. We all know theres a bubble and just hope that there can be improvements after the pop.
Its still fantasy money. Sure the effects are real but unless the system is overhauled no one here is going to do anything about it. May as well laugh otherwise you’re crying and ripping your hair out in a corner.
If you consider playing modern games a luxury yeah.
Pre-IPO investors fund the company but it isnt like they give all the money upfront. They do it in pieces and can increase or decrease as targets are reached, failed, or pivoted. This keeps the investors less likely to lose money. As debts and losses are shown the value of the company dropped and how much money is on tap for the future decreases. In this case 72B of funding was “lost”. This is paper money because they only had it on paper they didnt have the gold in hand.
Essentially their potential value to their current investors dropped 72B.
The reported net loss is real as they used more money than they made.
Neither factor is going to bankrupt or close the company considering they still have a bunch on hand and their investors still seem to think theres a possibility of profit (just less than before).
That’s my non-expert understanding anyway.
Funny to think they care about regulations. Until they start getting jailed for it they don’t care. Even the large fines from the EU and Australia are less than they make from ignoring the regulations.