this post was submitted on 21 Jul 2023
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Privacy
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Because for the first time in 14 years money is no longer free.
Right now the interest rate sits at 5% and it will remain there for the foreseeable future. Investors no longer have the patients to wait for growth because bonds are actually investable now, so all your “get user first find business later” companies began to panic and tries to squeeze everything out of its users.
Hilariously, the only social media company that will come out of this relatively unharmed is probably Facebook, because their unethical practices actually makes money