this post was submitted on 12 Jan 2024
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Technology
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I would hesitate to take a CEO on his word, but if it is actually unprofitable, that's no accident, it's an attempt to corner the market, instead of building something sustainable. Tech companies everywhere keep doing this and it has to stop.
This. They clearly overextended due to the boom in streaming during the pandemic, and are now reacting to the contraction in content consumption both here, and on YouTube.