I recently read a pretty interesting take that a lot of this started because Silicon Valley Bank failed, and now all these companies have to do something they haven’t really had a necessity to do before — to make profit.

And all of them aren’t run by business geniuses as previously believed, on the contrary, most of the leaders are so disconnected from reality that they genuinely have no idea what people want in a service, they can’t take feedback or advice because “they know better”, and all the other stuff that comes with that.

So they do what they think is right, while missing the whole point of the product they are so desperately trying to make profitable.

Look at spez’s “we’ll stay profit-focused until profits arrive” and Musk’s rush to get at least some ROI on his $44 bn middle age crisis toy.