Its pretty simple: Their businesses were built when it was cheap to borrow money. The pandemic caused large inflation. In response feds all around the world have greatly increased prime interest rates. Now their ‘run large deficits to expand’ business model is more expensive and they need to compete against increasingly valuable bonds as a competing source of investment. All of this means they need to aggressively chase improved profitability.
That seems like the reverse. The high rate environment made startups stingy which (along with that one newsletter saying SVB ran out of money) caused the run that killed SVB.
Twitter being ruined by Musk.
Reddit switching limiting other apps, and now blocking google.
YouTube detecting ad blockers.
Strange choices.
Its pretty simple: Their businesses were built when it was cheap to borrow money. The pandemic caused large inflation. In response feds all around the world have greatly increased prime interest rates. Now their ‘run large deficits to expand’ business model is more expensive and they need to compete against increasingly valuable bonds as a competing source of investment. All of this means they need to aggressively chase improved profitability.
SVB failing caused a lot of this.
That seems like the reverse. The high rate environment made startups stingy which (along with that one newsletter saying SVB ran out of money) caused the run that killed SVB.
…how?
That Doctorow essay seems appropriate: https://pluralistic.net/2023/07/28/microincentives-and-enshittification/
@antidote101 @narwhal, the self-defense of monopolies, when their empire begins to collapse.
PS , apart of the adblock this will also help in YT
https://greasyfork.org/en/scripts/477725-youtube-iframe-adblocker