[benj111]

Ad spending is one of the first things to get chopped come a recession. So expect these numbers to go down.

So then the question becomes what's the profit margins? Can they absorb, say, a halving of revenue short term?

If they can't then they're going to start layoffs, and the first to go will be the ones that don't generate revenue, so the experience gets worse for users, and the pipeline of new products dwindles, and you've released a bunch of potential competitors that know your business into the labour pool.

This also removes the price support for those existing startups.