"hit the skids" meaning in English

{
  "forms": [
    {
      "form": "hits the skids",
      "tags": [
        "present",
        "singular",
        "third-person"
      ]
    },
    {
      "form": "hitting the skids",
      "tags": [
        "participle",
        "present"
      ]
    },
    {
      "form": "hit the skids",
      "tags": [
        "participle",
        "past"
      ]
    },
    {
      "form": "hit the skids",
      "tags": [
        "past"
      ]
    }
  ],
  "head_templates": [
    {
      "args": {
        "1": "hit<,,hit> the skids"
      },
      "expansion": "hit the skids (third-person singular simple present hits the skids, present participle hitting the skids, simple past and past participle hit the skids)",
      "name": "en-verb"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "verb",
  "senses": [
    {
      "categories": [
        {
          "kind": "other",
          "name": "American English",
          "parents": [],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "English entries with incorrect language header",
          "parents": [
            "Entries with incorrect language header",
            "Entry maintenance"
          ],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "English predicates",
          "parents": [],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "Pages with 1 entry",
          "parents": [],
          "source": "w"
        },
        {
          "kind": "other",
          "name": "Pages with entries",
          "parents": [],
          "source": "w"
        }
      ],
      "examples": [
        {
          "ref": "2010, Ganesh Rathnam, Mises Daily, “A Greek Tragedy in the Making”, in Mises Institute:",
          "text": "After all, if these measures could've succeeded, they would've been implemented five years ago when the world economy hadn't yet hit the skids.",
          "type": "quote"
        },
        {
          "ref": "2023 June 6, Ian Bogost, “The Age of Goggles Has Arrived”, in The Atlantic:",
          "text": "A metaverse backlash, already fully rooted, began to bloom. Microsoft’s military contract hit the skids, Disney laid off its entire metaverse team, and even Zuckerberg’s own employees seem not to have much time for the technology.",
          "type": "quote"
        }
      ],
      "glosses": [
        "To fail; to decline."
      ],
      "id": "en-hit_the_skids-en-verb-aLD9yjmd",
      "links": [
        [
          "fail",
          "fail"
        ],
        [
          "decline",
          "decline"
        ]
      ],
      "raw_glosses": [
        "(intransitive, originally US) To fail; to decline."
      ],
      "related": [
        {
          "word": "on the skids"
        },
        {
          "word": "skid row"
        }
      ],
      "tags": [
        "intransitive"
      ]
    }
  ],
  "sounds": [
    {
      "audio": "en-au-hit the skids.ogg",
      "mp3_url": "https://upload.wikimedia.org/wikipedia/commons/transcoded/3/3f/En-au-hit_the_skids.ogg/En-au-hit_the_skids.ogg.mp3",
      "ogg_url": "https://upload.wikimedia.org/wikipedia/commons/3/3f/En-au-hit_the_skids.ogg"
    }
  ],
  "word": "hit the skids"
}

{
  "forms": [
    {
      "form": "hits the skids",
      "tags": [
        "present",
        "singular",
        "third-person"
      ]
    },
    {
      "form": "hitting the skids",
      "tags": [
        "participle",
        "present"
      ]
    },
    {
      "form": "hit the skids",
      "tags": [
        "participle",
        "past"
      ]
    },
    {
      "form": "hit the skids",
      "tags": [
        "past"
      ]
    }
  ],
  "head_templates": [
    {
      "args": {
        "1": "hit<,,hit> the skids"
      },
      "expansion": "hit the skids (third-person singular simple present hits the skids, present participle hitting the skids, simple past and past participle hit the skids)",
      "name": "en-verb"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "verb",
  "related": [
    {
      "word": "on the skids"
    },
    {
      "word": "skid row"
    }
  ],
  "senses": [
    {
      "categories": [
        "American English",
        "English entries with incorrect language header",
        "English intransitive verbs",
        "English lemmas",
        "English multiword terms",
        "English predicates",
        "English terms with quotations",
        "English verbs",
        "Pages with 1 entry",
        "Pages with entries"
      ],
      "examples": [
        {
          "ref": "2010, Ganesh Rathnam, Mises Daily, “A Greek Tragedy in the Making”, in Mises Institute:",
          "text": "After all, if these measures could've succeeded, they would've been implemented five years ago when the world economy hadn't yet hit the skids.",
          "type": "quote"
        },
        {
          "ref": "2023 June 6, Ian Bogost, “The Age of Goggles Has Arrived”, in The Atlantic:",
          "text": "A metaverse backlash, already fully rooted, began to bloom. Microsoft’s military contract hit the skids, Disney laid off its entire metaverse team, and even Zuckerberg’s own employees seem not to have much time for the technology.",
          "type": "quote"
        }
      ],
      "glosses": [
        "To fail; to decline."
      ],
      "links": [
        [
          "fail",
          "fail"
        ],
        [
          "decline",
          "decline"
        ]
      ],
      "raw_glosses": [
        "(intransitive, originally US) To fail; to decline."
      ],
      "tags": [
        "intransitive"
      ]
    }
  ],
  "sounds": [
    {
      "audio": "en-au-hit the skids.ogg",
      "mp3_url": "https://upload.wikimedia.org/wikipedia/commons/transcoded/3/3f/En-au-hit_the_skids.ogg/En-au-hit_the_skids.ogg.mp3",
      "ogg_url": "https://upload.wikimedia.org/wikipedia/commons/3/3f/En-au-hit_the_skids.ogg"
    }
  ],
  "word": "hit the skids"
}