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b_b · 2597 days ago · link · · parent · post: Millennials Aren’t Killing Industries. We’re Just Broke and Your Business Sucks
I agree that time three is correct. I don't think you need to resort to em dash in the other two instances; a comma would suffice since what comes after each looks like a modifying clause for the previous statement. Not that I think an em would be incorrect, just that normally when I use them it's to really pause and make an aside. I think the author's intent is just to modify the statement, in which case I would always go comma.