The bad news on tech keeps happening and its hard to escape the conclusion that this is at least a sector wide correction, and maybe even the beginning of a fundamental reset as how big tech companies should be. Stratechery adds another theory to the mix - Apple’s
App Tracking Transparency (ATT), which forces user to double opt-in on ad tracking - has destroyed the ad supported (and free) Internet, upon which an entire ecosystem of services rely. It’s a
fascinating hypothesis - we may come to regret overzealousness in guarding privacy when it comes at the price of end of the free Internet and a permanent contraction of the tech market.