this post was submitted on 12 Jan 2024
82 points (100.0% liked)
Technology
37801 readers
115 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
This is essentially admitting that the cheap money dried up as interest rates returned to normal and now they're in trouble.
This is basically the story of the last year in tech and while the fed has indicated rates aren't going to rise further and may start to decline in 2024, we're unlikely to return to the ultra low rate environment that's existed for the past 15 years.
I fully expect we'll hear a lot more stories like this as Silicon Valley companies are forced to actually operate as profitable businesses.
This. People quickly forget about this:
2008's free money is gone, COVID-19 free money reprieve is gone, now it's time to show your work or go bust.