Hacker News Reader

>> If time magazine can't survive, why not just put it out of business

So if you own a magazine that is failing but you can sell it to a rich person for $150 million but there are no other takers above $100 million, are you suggesting this should be illegal to make $50 million?

Who will compensate you for the lost value? The government? Who decides who is a "rich person?"

View on HN

You completely misread my comment. Of course it's smart for time magazine to sell a worthless business to a billionaire. My point is why are tech billionaires buying money losing businesses? It certainly isn't for profit or because it is a good financial decision. So what are they getting out of it? Certainly people like bezos and benioff don't like losing money. So what is the purpose?

My issue isn't why did time magazine sell itself. That is obvious and understandable. My issue is why did a tech billionaire buy it. That isn't as obvious and understandable.

Reply on news.ycombinator.com