this post was submitted on 20 Jul 2023
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Feel like we're watching a lot of tech companies making a lot of bad decisions all at once. Reddit, Google, Netflix, Meta, Twitter, Hulu, etc. Regardless of the individual circumstances and bad actors in each case, it feels like they're all being fueled by a shared, low-key desperation.
Interest rates. This bursts the bubble.
It's unreal how many people don't know that. It's always fun to think about on my way to work at 5am.
Easy money pipeline has been cut off, makes sense we're all seeing this kind of thing at the same time when you consider it from the POV of the investors bankrolling these companies.
Costs are going up, investment is wising up.
The venture capital free money train is gone and they're realizing their revenue models make zero sense.