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A project of our size needs at least a few hundred million dollars per year to keep going,â Mr. Durov wrote in his public channel on Telegram late last year. âWhile doing that, we will remain independent and stay true to our values, redefining how a tech company should operate.
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothersâor maybe the next Silverado?âechoed through the canyons of Wall Street as investors prepared for the worst.
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