I mean there’s Reddit ofc, as well as Twitter in its entirety, Discord is implementing some dumb updates, there are issues with Tumblr as well as everything to do with Meta, and I’m sure there are plenty more (and I haven’t even touched other digital media, for example the Sims). Why is it all happening in the span of about a couple months?

  • @clutchmatic
    link
    41 year ago

    The behavior of corporates and - especially - VC-backed ones was always out there (the dot-com bubble of 2000 was in a context of relatively high interest rate), but Ben Bernanke dumped gasoline on it through quantitative easing, as you rightly pointed out. By trying to save banks and a sluggish economy, the Fed enabled every growing distortions in corporate behavior since 2008. No wonder the 99% are pissed off. These attempts to “save the economy” resulted in ever-increasing exploitation of workers. I still think that it would have been better for the Fed to let a wave of bank bankruptcies sweep the US so that investors and management would be kept on their toes against bad corporate behavior.