this post was submitted on 13 Jun 2023
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Technology
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I have to imagine many of these investors also have money in areas whose prices have skyrocketed due to "inflation." They've seen the profits other industries are getting away with and now big tech feels the need to do the same. These companies are supposed to be the future, after all... How will it look if big oil is more profitable than mainstream digital platforms? To investors, it looks bad.
Sadly, when your ability to generate profit relies on using your users (or the developers and mods that run your platform cough Reddit) like cheap labor, rather than providing better product at reasonable prices, digital platforms suffer in usability or features. It's kind of a lose lose for anyone that actually cares, because so far the market hasn't self-corrected.