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Gfycat.com shuts down on September 1 and all Gifs will be taken down. (www.ghacks.net)
submitted 3 years ago by to c/technology@hexbear.net
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[–] 1 point 3 years ago* (1 child)

Free VC tech money has dried up post COVID, the bubble has burst. Capitalists want a return on investment now. Most IT stuff is not profitable. YouTube isn't profitable, most Amazon clones aren't profitable, social media outside of the Facebook/meta owned model is not profitable.

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  • [–] 0 points 3 years ago (1 child)

    Does anyone else find it really funny that the model just doesn't exist? The Vultures Capitalists are busting at the seems for 20 years now, the next big app is gonna break free! but no, its not.

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  • [–] 1 point 3 years ago* (1 child)

    The actual start-ups never need to profit. The VCs invest early when they are worthless, hype the shit out of them, and liquidate their positions at IPO time to start the cycle anew. A bunch of suckers get left holding newly minted overvalued stock in doomed companies.

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