> To survive at their inflated valuations they had to be everything to everyone, which stretched their vision thin Your comment is spot on. It also handcuffed

> To survive at their inflated valuations they had to be everything to everyone, which stretched their vision thin Your comment is spot on. It also handcuffed them to their established business model(s) and "properties", because they couldn't afford to take a revenue hit or self-cannibalize to transition to the next S-curve eating the world. Given that, demise is inevitable.