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Let the Platforms Burn by Cory Doctorow
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this post was submitted on 10 Jul 2023
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Technology
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The long near 0 interest rate made lending money so cheap. Once it started to rise it's easy to see how the tech sector has been overvalued. I think most people "knew" this but couldn't articulate it since the value of social networks was so high. I am hopeful we can see some of the businesses split up or burned.
Hopefully this will reduce the obsession with business and we can focus on helping people but I doubt it
It just changes what businesses are going to be invested. Basically, you need a pretty good business plan now to get investment instead of the previous plan to steal underpants.
That is good. Business are meant to fail at some point. We need some cleaning up