• mean_bean279@lemmy.world
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    8 months ago

    It’s basically the dot com bubble all over again. These companies survived for years off free money and venture capitalists with seemingly endless pockets due to low interest rates. Now that rates are up the money is dry. Now that investors don’t have free money they want to see a return. Since these companies never could be profitable they’re now collapsing under their own weight.

    As for who was wanting to shut it down… basically any government agency dealing in child abductions, any mom group, “family” organization, incels/people mad at others for just being social. Just my guess.