This is a fantastic time to be alive and prepared to start the third generation of internet companies. You've got Google in a panic against OpenAI, Meta is imploding, Twitter is imploding, Reddit can't help but drive users away, and now least of all Imgur also deciding to follow them off the cliff; I genuinely feel blessed to watch these companies tear themselves apart.
Like in all things; we, the data hoarders, the open source community, the hackers, the archivists, were here before them; and we'll be here after them. Like watching pigs roll in the mud.
Also, lots of top tier talent is being laid off, and many others are well-capitalized and eager to flee to fully remote companies, or to start their own companies.
Looking back a decade from now, we'll notice that many of the unicorns will have been founded in 2023.
Isn't it also what misallocated those resources in the first place? Wouldn't it be better to never encourage people to just throw money away on subsidized BS business models that seem to mostly empower monopolies whose main barrier to entry is "has so much cash they can put any business that is wasting time trying to have revenue out of its misery"?
The way the theory goes, people need to be encouraged to take risks. To gamble it all on a crazy new business idea that might not work out at all. Risk is the source of all new value. You can do this by making money very cheap and giving very few other otherlets for risk-free dividends.
People will create all manner of crazy businesses. Some will be duds, some will be frauds, and some will be the future. Then to sort out which is which, you have to turn off the flood of money.
Like in all things; we, the data hoarders, the open source community, the hackers, the archivists, were here before them; and we'll be here after them. Like watching pigs roll in the mud.