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this post was submitted on 02 Jul 2023
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FREEMEDIAHECKYEAH
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Probably couldn’t make money and the VC funds dried up….
What even was their business plan? I never understood how'd they make money. I guess advertising is always the answer but how...
That’s why this year everything is going down. VCs demand you start making some money or shut down and nobody bothered figuring out how to make money
I think the Federal Reserve raising interest rates has more to do with it. Now that the VC's that fund everything are getting the money faucet turned off, it's having downstream effects on all these tech companies.
The interest rates are letting the VCs turn the faucet off - it's not forcing them. Higher interest rates mean they can make more money by letting it sit in high interest bank accounts rather than actually exercising the money.
Meaning it's less worth it to get out the old pocket book - still results in the same issues l guess though.
High interest rates makes money and debts go up at the same time. Good for those with money, bad for those with loans.