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this post was submitted on 15 Sep 2023
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What is it with tech companies being too shitty lately?
The lack of "easy money". A lot of companies have had accelerated growth due to an influx of investments which were mostly interest-free (or very low interest) loans . You didn't have to have a good product - just overinflate your value till your IPO, then the value will determine stock price, everyone gets rich.
Now that interest rates are higher, investors want a lot more bang for their buck. Couple this with companies that no longer know how to make good products, now they're just squeezing shit dry and scheming and scamming their customers to fulfill their one and only legal obligation: make more money for the shareholders.
If I could be certain this is true, I'd be optimistic.
It would mean (because of some things being more profitable than other) that after long labor pains (involving legal battles and IP laws changing for patents and anti-monopoly laws changing back to working state) these companies were going to die and the better ones were going to take their place.
The problem is that the kind of people that run these types of companies will first see the world burnt to ashes before losing profits and power.
So yes, they will fall, but they'll be taking us down with them.