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this post was submitted on 13 Sep 2023
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That’s great and all, but I’m judging them based on what they’re doing, and not so much on what they’re saying.
They’re trying to squeeze blood from a stone. This is the classic VC/PE enshitification cycle. They’re going to ride it into the ground chasing profitability, and it’s 100% part of their business model.
Edit: did another couple searches; found this:
Emphasis mine.
Silverlake is private equity; Sequoia is VC; Coatue is a “privately owned hedge fund sponsor” (read: private equity). This enshitification trajectory should be expected when controlling interest of anything is held by financial organizations of this type.