I mean there’s Reddit ofc, as well as Twitter in its entirety, Discord is implementing some dumb updates, there are issues with Tumblr as well as everything to do with Meta, and I’m sure there are plenty more (and I haven’t even touched other digital media, for example the Sims). Why is it all happening in the span of about a couple months?
I agree. I think interest rates are driving more of this than people realize. The Fed is still planning two more rate hikes before the end of the year to try and get inflation under control.
Silicon Valley Bank was also a victim of a changing environment. Runs on a bank used to be something that could take days. Now they can happen in hours with panic spreading via social media and withdrawals happening from an app. It didn’t help that they were a niche bank serving a niche customer base.