I’m just a layman, but it has been nagging my brain how all these big tech companies seem to be turning shitty all at once. I’ve seen others propose similar explanations, but the basic idea is that the historically low rates got them addicted to “free” capital. Now the faucet has been slammed shut and they have to make up for the shortfall.

Also, it’s not just big tech at fault. The massive worldwide inflation we’ve experienced happened for the same reason - shortsighted greed.