wow just wow while i can't say i didn't see this one coming but it always amazes me where greed could lead someone
this post was submitted on 01 Jul 2023
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Whats up with all these online companies just deciding to be assholes this year.
Companies are becoming even more greedy recently across the board and at a rapid pace. Some people would want you to believe Youtube wouldn't generate billions of dollars as income annually for Alphabet for some reason. But the truth is the platform is extremely profitable already. Youtube simply wants even more now because competition has done the same. We've seen prices spiraling up and quality dropping in pretty much all sectors of the economy and this trend will continue for the forseeable future.
In short: Because they can (some are really stretching their boundaries, though)
and try to speak about this to anyone who doesnt see it you are basically labeled as conspiracy theorist or something and just dismissed.
Like another poster said, investors are pushing for profits. The Sillicon Valley model of throwing money at it until they figure it out is suffering with the downturn in the markets. So with the VC and investor money drying up, sites are pushing to make money to keep the lights on.
I would't say keeping the lights on, more then trying to beat covid lvl profits.
I think this is the real thing. If online companies don't match the extremely ridiculous and luck they had during the pandemic then they are doing "worse" even if they are doing just fine.
All of them also seem to be focused more on short term gains over long term losses (i.e. meeting quarterly goals by raising rates but driving away otherwise good customers and completely disregarding the benefit of customer loyalty.).
Interest rates went up and now they need to make payments on their previously free debt.
They were always assholes, but the end of zero interest rates is making American corporations go from boiling the frog to just smoking the frog alive.
Why is it all in July too???