In an attempt to reboot the global economy, central banks slashed interest rates to almost zero, resulting in an era of cheap money.
This resulted in two things. First, it incentivized investors to fund promising (and, in many cases, not so promising) young tech companies. But it also allowed for the emergence of business models that, in any other circumstance, would be completely unviable.
I first got exposed to the problem from this Adam Conover interview with Dan Olson: https://m.youtube.com/watch?v=4aU-QkJfgGw
This article is also a nice encapsulation of the problem, even though it focuses on financial technology only, it applies to other tech companies as well:
https://www.yahoo.com/news/fintech-faces-reckoning-only-matter-133006783.html
So buy very long puts on Chime is my take away from that Yahoo article.
Edit: Nevermind… Chime is still private. They keep pushing back their IPO because fintech stocks keep declining…