This situation actually reminds me a bit of the dotcom bubble collapse in the late '90s / early '00s, with slight differences.
Declining stocks & VC led to a bunch of startups initially being unable to obtain additional funding. To make matters worse, ad demand started falling, leading to lower revenues for ad-based internet services.
In this case, a decline of ad demand is trailing dotcom revenue shortages. I suspect currency & stock weakness & a slowing econ…
"Code is, ultimately, characters on a screen, and software engineers do nothing but hammer that code into shapes that spark Joy and Money. The fear and dread comes from a culture where people feel bad that they can't work quickly enough in the terrible codebase, where they feel judged for slowing down to hammer the code into better shapes that sadly aren't on the Jira board, and where management looks down on people who practice craftsmanship."
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