The thing to understanding crashes is that they’re a crude signal of an underlying reality. Not a thing in themselves.

This isn’t like the 2008 crash, or any other, because the reality that’s causing the number to go down is totally different. Except maybe the great depression. It’s a bit like that.

It could also spell the end of today’s open Internet, as Europeans look to build alternative platforms to those of the giant U.S. tech firms.

I think you mean “closed internet”!

What are they going to do? blacklist me and stop serving me ads?

Oh no