this post was submitted on 19 Jul 2023
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All of these internet corporations really thought they were institutions that could not be rattled. They forget that in the grand scheme of things they have been around for no time at all and consumers will be happy to move to whatever comes along next.
They haven't forgotten anything. What we are seeing now is simply the result of climbing interest rates and the loss of cheap debt forcing companies to actually become profitable by any means necessary.