this post was submitted on 15 Sep 2023
1552 points (98.7% liked)

Technology

59590 readers
5639 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[โ€“] HarkMahlberg@kbin.social 5 points 1 year ago (1 children)

I first got exposed to the problem from this Adam Conover interview with Dan Olson: https://m.youtube.com/watch?v=4aU-QkJfgGw

This article is also a nice encapsulation of the problem, even though it focuses on financial technology only, it applies to other tech companies as well:
https://www.yahoo.com/news/fintech-faces-reckoning-only-matter-133006783.html

In an attempt to reboot the global economy, central banks slashed interest rates to almost zero, resulting in an era of cheap money.

This resulted in two things. First, it incentivized investors to fund promising (and, in many cases, not so promising) young tech companies. But it also allowed for the emergence of business models that, in any other circumstance, would be completely unviable.

[โ€“] Corkyskog@sh.itjust.works 2 points 1 year ago* (last edited 1 year ago)

So buy very long puts on Chime is my take away from that Yahoo article.

Edit: Nevermind... Chime is still private. They keep pushing back their IPO because fintech stocks keep declining...