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Netflix removes its basic tier in the US and the UK
(techcrunch.com)
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this post was submitted on 19 Jul 2023
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Looks like they're trying the new twitter and reddit strategies. FOMO is real!
It's like all the CEOs decided "we're doing ok, but I want a legacy. Today's the day I'm going to burn this place to the ground, and refuse to admit I was wrong"
FOMO?
Fear Of Missing Out
How does this apply to this situation?
They mean it sarcastically. FOMO on fucking up spectacularly
Is a result of the massive shift in the economy over the last year. Lots of these tech companies were built on the back of the historicly low interest rates since 2008 meaning people saw better returns on investment than saving so there's money at anything. With the interest rates shooting back up, it's now the other way around so these companies need to be making much more profits and paying out much bigger returns to keep investors interested rather than just sitting on their hordes like Scroge McDuck.
I agree and I don’t think they are equipped to deal with the future economy. Web 3.0 is going to level these assholes and it’s going to be glorious. I see a future without these tech giants. I can’t wait to watch them all implode.