So, basically, all the value of Tumblr was in the porn. Once they banned that, it lost 99% of its value. Verizon/Yahoo bought it for $1.1B, banned the porn, and then sold it for $10M. Less than 1% of the purchase price. Impressive!

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I actually saw a pic of that. Looked like it was from the 70s and someplace in the desert.

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