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?
The other element to this is the lack of competition. Since companies funded this way don’t need to turn a profit for a long time, they can very easily kill their competitors who do need to be profitable to survive.
So when the time comes for the company to turn a profit, there are few if any competitors left to put pressure on them, giving them the power to do what they want, and leaving consumers with no other options.
And now the interest rates are up and money tight. All non-profitable companies suddenly need profits. Boom.
Our startup making business services and actually selling them… Getting any funding now is such a grind.