The past ten years of tech have been subsidized with low interest rates, i.e. free money.
That is now gone and companies must tighten belts. There really is no greater mystery here.
That is now gone and companies must tighten belts. There really is no greater mystery here.
Remember when the government used emergency powers and forced the economy to shut down over health mandates? Remember the thousands of dollars in checks the government mailed to every person or business with a pulse?
That whole operation completely distorted and screwed up the economy. It boosted tech companies with unnatural growth. It boosted real estate prices. It increased the cost of grocery staples. The market reacted in the rebound, the Fed reacted to the market, and we are playing out the effects of the bad decisions made in 2020.