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After ChatGPT disruption, Stack Overflow lays off 28 percent of staff (arstechnica.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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After ChatGPT disruption, Stack Overflow lays off 28 percent of staff::The popular developer forum is still hunting for a "path to profitability."

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[–] pc486@reddthat.com 7 points 1 year ago

Tech has been in aggressive growth mode since 2008 because the Fed was handing out free money (interest rate lower than inflation). That allowed investors to dump money into tech businesses in hope of rapid business expansion, which in turn makes the business more valuable.

The free money dried up. Now these tech businesses are going to find out if they're sustainable.