It’s IMO a sign that the current financial bubble is about to burst and it’s going to do so in a very violent way despite greedy bulls still pushing the “it’s different this time, we have AI now” bullshit.

Investors have their money trapped in these companies, and when they see what riskless treasury bills yield, they naturally start losing their minds because their money is instead in companies that fail to make significantly more than that riskless benchmark. So those investors then pressure those companies to do whatever they can to produce a good enough return on investment in a short period of time as they run out of patience and they themselves know that hell is coming in the financial markets so their shares might lose an even more significant amount soon.

The end result of CEOs and executives under pressure by investors, and engineers stressing out because they understand the financial situation and that they have to either be yes-men and agree with whatever changes the executives propose or be laid off (because another way to reach the target set by investors is to reduce costs by firing people), is obviously the enshittification that we witness today.