All VC backed tech companies have been operating on the assumption that they can focus on growth and then make a profit later. That hasn't happened for most of these companies and VCs are starting to demand returns. It was always going to happen, I'm surprised it took this long.
More importantly, the IPO market collapsed a couple of years ago. That is the VC's payday. Now that we're not in an IPO buying frenzy, investors are wanting to see positive cashflow before they buy.
Rates needed to rise before it was going to come to pass.
All of the sudden? This has been happening, maybe slowly at first, since every one of those platforms started, imo.
Time for a open-source youtube alternative, I haven't yet been convinced that Odysee, Rumble, Nebula are it.
i e read this mostly because of AI…
They've got you - you're addicted and/or locked in and the hastle of moving to alternatives is too great. The short answer is : 'They no longer need to be favorable, they have you, your data, and your friends and it's too much effort to go somewhere else'
Quite simple. Greed got to their heads and people became tired of dealing with their bullshit.
Turns out hiring thousands of people and hosting tons of data gets expensive, especially as your customers (advertisers) stop spending as much on your product. After a decade of cheap money being thrown at them by investors to grow grow grow, interest rates has made new debt far more expensive and the need to turn a profit is here. On top of this, their primary source of revenue has shrunk as most companies cut back on their advertising budgets, again because money has gotten tighter now very quickly.
SOXL - an EFT for US semicondutor companies is doing well.
Simple: being favorable to users isn't profitable, and the US economy (in which Silicon Valley) is in the toilet at the moment
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