this post was submitted on 07 Jun 2023
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First all the bs with Twitter and Elon, then Reddit having an exodus to Lemmy (not complaining lol), then Twitch. Are we like, in an alternate self healing dimension or something?

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[–] PurpleErestor@lemmy.ml 59 points 1 year ago (1 children)

The timeline split after harambe. This is known

[–] Gray@lemmy.ca 13 points 1 year ago (1 children)
[–] 3sframe@beehaw.org 9 points 1 year ago (1 children)

I wonder what our alternate timeline selves are doing. Good for them, right?

[–] donio@beehaw.org 14 points 1 year ago* (last edited 1 year ago)

In Timeline-α the Visitors didn't turn away in disgust and Contact was approved. The Uplift process is well underway, environmental conditions have been stabilized and restoration is progressing well. Space travel is still restricted to the Solar System but Humanity is on track to full Membership. Ambassador Harambe has resumed his duties on the Council.

[–] effingnerd@beehaw.org 48 points 1 year ago (4 children)

I have a sinking feeling that these moves are not about money, but more about power and manipulation. If you squeeze these user bases such that the savviest users are forced out, those more likely to ask "Why?" about damn near anything, you will own access to a group of people that can be influenced to think/do/buy whatever the top management and/or majority shareholders want. If you lose a few million users, what does it matter if they were dissidents to your goals?

[–] kool_newt@beehaw.org 14 points 1 year ago (1 children)

This is where my mind goes. Kinda convenient that Twitter and Reddit, both likely particularly dangerous to those seeking power happen to be destroyed seemingly intentionally in the same year ahead of a sure to be insane U.S. election season.

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[–] kherge@beehaw.org 37 points 1 year ago (6 children)

From everything I have observed, businesses are hunkering down for a recession in the next fiscal year. It explains the lay offs, the penny pinching, and puzzling decisions that look like business suicide.

For services that are free for users, advertising revenue and investment fund raisers are the only thing keeping them afloat. With banks like SVB getting seized by the FDIC, it's starting to scare investors. Advertisers are seeing the writing on the wall that people will stop spending as much as they used to. We are also probably seeing jacked up pricing across the board because businesses are taking what they can before it's gone.

So what's left? Squeeze users for money. Additionally, shed users that actually cost them money and these tend to be power users. The question, which everyone seems to be assuming is a foregone conclusion, is if this shedding strategy will end up killing the service. In reality, we don't know but the idealists would sure feel good if someone else ate their market share.

I'm just glad that federation is picking up steam in the social media space.

[–] half_built_pyramids@lemmy.world 10 points 1 year ago (1 children)

So why do layoffs at all if they don’t actually work? “People do all kinds of stupid things all the time,” Pfeffer says. “I don’t know why you’d expect managers to be any different.” https://www.theverge.com/2023/1/26/23571659/tech-layoffs-facebook-google-amazon

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[–] fred@beehaw.org 9 points 1 year ago

I agree with most of what you said. I would say classifying SVB as a seizure is probably not accurate. The FDIC only came in when it was clear SVB was going to fold and in fact insured far more than the 250k per account guaranteed. Mainly to try and stem a run on midsize banks because

  1. Many companies had large holdings, undiversified in these banks

  2. The banks were borderline negligent with how they handled those deposits, sticking them all in “safe” government bonds that ruins liquidity.

Once the interest rate on the bonds was lower than the base borrowing rate, no one would buy the bonds instead of just buying new bonds with a much higher guaranteed return.

So, given that, I would say the FDIC instead bailed out the banks. Something they would never do for you or I, or even a business with similar valuation as any of the banks customers.

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[–] stagen@feddit.dk 33 points 1 year ago (9 children)

The twitter thing is sad, but honestly not a huge deal. I rarely used it anyhow.

The reddit thing is depressing, since I've been a huge supporter and user of Apollo for many years. It feels like getting stepped on and I feel for the developer Christian Selig who devoted so much time and energy to the app.

I hope nothing happens to Twitch in the way that Twitter and Reddit have though, the small time streamers I follow and support won't survive a thing like that.

[–] dogmuffins@lemmy.ml 8 points 1 year ago (1 children)

I think it's an important lesson in impermanence.

The net will always have good bits and bad bits, but they won't always stay the same.

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[–] AnagrammadiCodeina@feddit.it 29 points 1 year ago (4 children)

The reality is that nothing is really dying and nothing is really changing. Twitter is still fully operational and other than a small hit nothing happened. Twitch already did a step back. For Reddit we'll see but only a really small percentage of reddit is using third party apps.

[–] naoseiquemsou@lemmy.ml 25 points 1 year ago

It's not the services that are dying, but the internet as we used to know.

Change is natural, but the services are all changing in a way not beneficial forthe users.

[–] dillydogg@lemmy.one 12 points 1 year ago (13 children)

I think the "the internet is dying" perspectives are all incredibly overblown. They aren't going anywhere anytime soon. I remember all of the "Facebook is dead, I don't know anyone using Facebook!" posts, but I suspect many here are invested in some index fund that is being pulled upwards by Meta.

[–] Sabata11792@beehaw.org 10 points 1 year ago

This is the natural cycle. Big sites get greedy and kill off the user base for a payout and we go to the next one. The fact reddit kept alive for so long is surprising but it take a lot for people to bother moving.

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[–] Dekadisk@beehaw.org 8 points 1 year ago (1 children)

The hit Twitter suffered might be bigger than you think: Yahoo Finance (from Bloomberg) link

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[–] tallwookie@lemmy.ml 28 points 1 year ago (2 children)

twitter was overvalued. reddit has made a lot of questionable business decisions over the last decade or so but their recent API change will be their death knell. it feel like a cash grab. I personally only use Twitch to watch Bob Ross reruns :P

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[–] gotofritz@beehaw.org 27 points 1 year ago (3 children)

I think this is "normal" and the previous status was a glitch due to the low interest rates. Investors threw money at tech companies and didn't care whether they made any money. Not any more. It's now "make money or go bust". I am not sayiny these new trends will make them money, but IMHO it's what's driving them

[–] worfamerryman@beehaw.org 8 points 1 year ago (7 children)

That is a great point. I never considered this to be an effect of interest rates increasing. But I think Reddit was already profitable.

But it recently went public and I think the board is like, "Make more money now!"

They really just want to get everyone on the Reddit app so they can collect user data to sell and to show advertisements.

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[–] abraxas@lemmy.ml 7 points 1 year ago

I dunno. A lot of the investors were (are) on waverides from previous success. There are absolutely loan-backed ones, but as one startup investor said to me "I look for 200-300% return in 5 years to not call something a failure." With expectations like that, you hold to record profits even if 2/3 the companies you invest in fail.

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[–] Morgueanna@beehaw.org 25 points 1 year ago* (last edited 1 year ago) (6 children)

People aren't reacting to this sudden interference with content aggregation with as much outrage and fear as they should.

The thing that Twitter, reddit, and so many other sites that have recently been bought up and swallowed, do so well is aggregate information for us. It provides us a pool of information, with which we as a collective society can sift through and analyze together through the lens of our experience, our professionalism, and our intelligence.

Before these types of sites, we were segregated and isolated. As much as I miss forums, for the most part they became bubbles that hyperfocused on singular categories. This kept us in our place. This kept us from venturing out and sampling things that were different and other. When sites like Fark took off, we suddenly had insight into things we may never have had interest in or knowledge of before.

Corporations and governments are trying to dismantle aggregation because it keeps us informed and it keeps us involved. It informs us of the other, and allows us to co-mingle in an environment where we might be exposed to new ideas and new ways of doing things that were otherwise not available.

We shouldn't just be lamenting the downfall of reddit due to our lack of entertainment. We should be very, very afraid of the day when the only way you can find 'other' information is by using very specific search terms.

People in power have been working very hard for a very long time to take us back to a time before the Internet, and a time before aggregation. What I sincerely hope comes out of this is the realization that we are all stronger together with our complex variety of ideas and perspectives, and our ability to question things and provide information to each other.

In case anyone has forgotten, Twitter is a lifeline to many corners of the world most of us will never touch and have no way of accessing otherwise. Twitter was the tool for dozens of uprisings and protests around the world. Twitter was the catalyst for so many young people to connect and realize that the situation they were in could be changed. And that's been taken away. It's been made a joke, and people are leaving in droves. People whose experience and support could help the next protest. That's exactly what they want.

But what do I know, I'm just a rando on the internet, who may be able to tell you the answer to your very niche question, who may say just the right thing when you're needing support, or who may pass on your story to someone else who knows a journalist, which may lead to your voice or your injustice being heard.

They're trying to isolate you. Don't let them.

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[–] BobQuasit@beehaw.org 23 points 1 year ago (4 children)

Doctorow's Enshittification describes it pretty much dead-on. It's basically the cancerous form of late-stage capitalism that we're living under now.

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[–] Arystique@beehaw.org 21 points 1 year ago (1 children)

I suspect that we're at end-stage capitalism, essentially every company feels they should be constantly making record profits and they think of predicted profits as granted, when they didn't reach predicted profits it was seen as losing money which in the CEO's eyes meant they needed to increase their income to make up for losses and the only way for companies that rely on user generated content for revenue was increased advertising which is the route youtube is currently going for the rest they had no way they could see to increase their income till elon decided to crash twitter with introducing the payed blue checkmark. What we saw when elon did that was a failing company but what twitch and reddit saw was an opportunity to not be blamed for following musks example, funnily enough though they fucked up on the attempt and everyone saw them as money grabbing

[–] psuasno@beehaw.org 13 points 1 year ago (1 children)

This is it. When there are millions of people using a platform every day, the advertisers start foaming at the mouth. Corporate greed (capitalism?) Is a poison and will eventually destroy anything it touches.

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[–] comfy@lemmy.ml 19 points 1 year ago* (last edited 1 year ago) (2 children)

Well, while it is surprising it's all happening within a year or so, it's not unexpected at all.

They're ultimately for-profit companies. They have openly demonstrated the obvious truth that when push comes to shove, users don't matter to them, at least not as much as money. Our attention was the product.

These companies have proven time and time again that a quick moneygrab will win over retaining the people who make the site work. capitalism 101 baby.

[–] ToastyWaffles@lemmy.ml 9 points 1 year ago (1 children)

Yep, think of the math like this:

1000 users that we can get $1 of profit from totalling $1000 profit

Or 500 users we can get $3 of profit from totalling $1500 profit.

$1500 > $1000 Therefore it's a good decision.

Welcome to the mind of corporate executives

Source: I work with these dumbasses

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[–] kamin@lemmy.kghorvath.com 19 points 1 year ago (2 children)

We've reached the end of the VC-funded golden age where they are all now demanding a return on their investment, hence why the screws are now all getting tightened.

[–] omarciddo@beehaw.org 12 points 1 year ago (1 children)

I’m honestly surprised it even got this far. It was just common sense to me, even a decade ago, that companies that burned through VC cash and tried building up user bases with little regard for actual profitability couldn’t possibly keep it up forever.

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[–] yourgodlucifer@kbin.social 18 points 1 year ago (5 children)

please can youtube be next?

I really want to stop using my google account and that's the only thing keeping me from moving away from it.

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[–] johnthedoe@beehaw.org 17 points 1 year ago (4 children)

Big sites have made surfing the web so boring. I will end up spending the day on 2-3 sites. All this shake up will hopefully force me to look at more websites again.

[–] thesilencenoise@beehaw.org 9 points 1 year ago

Agreed. I really miss stuff like StumbleUpon and Google Reader which were my mainstays before Reddit.

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[–] EgyptUrnash@pawb.social 17 points 1 year ago (4 children)

The big sites got big by being there when a previous big site died. But nothing lasts forever, and eventually a social site becomes desperately uncool because there are people old enough to have grandkids on it. And they totter on, like a zombie, until they fuck out badly, and most people leave. But not everyone, I still get linked to blog entries on Livejournal now and then, sometimes I even end up on Blogger when I’m following a trail and people are still updating some of those.

[–] Wahots@pawb.social 12 points 1 year ago (5 children)

It's probably just confirmation bias, but I also like platforms small, before all the rabidly negative 500k+ sized communities show up. When stuff gets too large, sites become impersonal. Regulars drowned out by a megaphone of spam, rage content, mass downvotes, "have you ever touched a boob? I'm not horny I just really wanna know" type questions, and which X is best X type threads.

Reddit was getting far, far too large for its own good in regards to some default and even non default subs. Some went from meaningful conversations to just images drowning out all text threads. felt like shouting into the void after that.

[–] monobot@lemmy.ml 9 points 1 year ago (1 children)

I am feeling the same, reddit became too large for me, and while I think they could at least try to make it good place for smaller communities (like recommending small subreddits, allowing for beter moderation...) they focused just on growth.

I am not certain advertisers will be happy with just teenagers (who don't spend much money) over there.

Same as YouTube, I get it that big channels make money, but I don't like all polishing and teams of professionals "creating content" for me. I want to listesten to my peers, sharing their thoughts and hobbies, maybe promoting themselves amd their business... but current situation is unusable. I never see recommend video without milions of views, I don't even know how to find those small channels - if they even exist anymore.

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[–] Lowbird@beehaw.org 15 points 1 year ago (5 children)

This Lemmy migration does feel like waaaaay more positive of a result than I ever expected from reddit getting worse.

I've always appreciated the idea of the fediverse, but mastodon and the twitter-style of social media has never appealed to me, and Lemmy used to be so tiny and niche, so I didn't invest much time in it until now. But this sure is nice, comparatively. I'm probably on here too much though!

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[–] meisme@lemmy.ml 14 points 1 year ago (4 children)

Higher interest rates means less investment, resulting in these companies racing to make a profit. The reality is that Reddit is bleeding money and has been for years, and Twitter is barely profitable.

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[–] teawrecks@sopuli.xyz 11 points 1 year ago (5 children)

The twitter/elon thing is hilarious. I honestly do think he accidentally got himself into quite the pickle and now his pride is keeping him there. As for reddit and twitch, I don't assume these are the surface-level-dumb moves that we think they are. My guess is that this is a calculated means of rolling out the changes they actually want by:

  1. overshooting
  2. letting everyone get mad
  3. backing off to their actual changes (or something close)
  4. letting everyone think they've won
  5. and finally push forward a bit more once everyone is preoccupied with the next thing

Internet users love to cancel shit, but at the same time, are always looking for the next thing to cancel. So as much as people hate twitter or facebook or tiktok or youtube or windows or nintendo or chick-fil-a or whatever, they're all just looking for an excuse to forget all about it, and continue using their product as quickly as possible. And corporations know that, so they've worked "giving them that excuse" into their plans.

[–] nd_nb@beehaw.org 15 points 1 year ago (5 children)

For a minority of users on reddit, there's a line. For me, it's forcing me to use new reddit. If that happens, I just have to quit, I can't stand it. I don't want to quit, I have a lot of subreddits I read.

But I saw the stats for the old school users vs new reddit/app users, and we're outnumbered. Reddit knows they might lose thousands of redditors but they don't care because lots will just switch to their toxic app and if they lose 5% of the stubborn old folk then so be it.

[–] funforgiven@beehaw.org 7 points 1 year ago (1 children)

The stubborn old folk are the ones responsible for creating a significant portion of the content on Reddit. While they may appear to be in the minority, without their content, casual users will be less inclined to use Reddit.

[–] nd_nb@beehaw.org 8 points 1 year ago (2 children)

I've been wondering about that. You know if there's a youtuber with 10 million subs, you'd think they're a big, important star on the platform? And then you find out that youtube gets 80% of their ad revenue from kids watching Baby Shark on a tablet, and your 10 million sub youtuber actually isn't that relevant at all.

Well I was wondering if there's a reddit equivalent to that. Like maybe reddit gets 60% of it's revenue from Indian cricket fans and we don't even know about it. I'm sure sports fans in general are a lucrative userbase. And then places like /r/funny... basically imagine who would be less likely to use an adblocker and old reddit and the app, without caring too much. That's low-effort content that basically runs itself.

At least, that might be what they are gambling on. I do agree with you that the old guard are very important for developing good content. I just don't know if reddit cares about good content anymore.

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[–] Clbull@beehaw.org 10 points 1 year ago (16 children)

Elon Musk's buyout of Twitter seemed more like an extremely elaborate shitpost that went horribly wrong. It's like Musk never intended to buy them in the first place but was legally forced to do so (he tried to back out of the deal beforehand.)

As for Reddit, that place has been going down the shitter since around 2016. Power users have ruined that site, especially the handful of moderators that control hundreds of subreddits between themselves. Spez is a blithering idiot who has done more to censor and subvert the site than Ellen Pao ever did (ironically, everyone accepted it and didn't revolt against him because he wasn't a woman.)

That being said, I really hope Steve Huffman doubles down on the API changes and kills Reddit as a platform. Nothing would make me happier.

Twitch and YouTube literally think they're too big to fall and work actively to fuck over the content creator, when decent competitors like Rumble and Kick are coming along. Mixer could have been decent but Microsoft's strategy was literally to offer two streamers nine-figure contracts and somehow think this would drive people to their Twitch-clone. At least Rumble and Kick are competently run.

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[–] DidacticDumbass@lemmy.one 9 points 1 year ago (3 children)

Hah! Are we so inured to the death march towards dystopia that it is surreal when something good happens? All of these large social media sites are privacy hating monopolies that actively disrespect their members and misuse their information.

They should die. Let them. We should celebrate!

[–] overlordror@beehaw.org 8 points 1 year ago (12 children)

I'm honestly excited about this reboot. I hope more people will realize that reddit admins and the platform Reddit Inc. is not the same site you signed up for back in 2008. It's a corporate entity that must make profit—which means getting rid of unprofitable means of accessing content they want to gatekeep. No thanks.

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[–] kratoz29@lemmy.fmhy.ml 9 points 1 year ago

What happened with Twitch? I'm out of the loop there.

[–] sharp@sh.itjust.works 8 points 1 year ago

From Cory Doctorow:

Here is how platforms die: First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.

https://www.wired.com/story/tiktok-platforms-cory-doctorow/

Some of it is because we had a decade of cheap borrowing which has come to an end and many of these platforms were never profitable.

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