They rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually to generate profit and not just show user growth to be attractive to investors.
Yep, but also, I think spez is done. He's just cashing out and fuck you etc.. etc..
He'll catch enough to successfully eject and thats that for him. Reddit will die. But we'll have survived, and the open web will continue.