• CitizenKong@lemmy.world
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    1 year ago

    Something I read someone else here on Lemmy, but which is a good point, is the fact that there aren’t that many investors around anymore. Boomers are slowly dying out and Millenials don’t have that much money (Gen Y even less so). All of those social media apps were/are running at a loss for a long time before eventually becoming (barely) profitable, needing a steady stream of investors chasing the potential value of the app to stay afloat.

    • pec@sh.itjust.works
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      1 year ago

      Saudi Arabia are currently a significant portion of venture capital. They have a ton of money coming from a dying source (oil) so they need to diversify.