Technology

Course-correcting, maybe? Web 2.0 really overstayed its welcome with Facebook/Twitter/Reddit being such dominant websites over the past 15+ years. Various reasons of greed, narcissism, and other factors finally popped the bubble.

I'm really enjoying the Feder-verse or whatever we're calling it since decentralization can prevent a lot of this nonsense from ever occuring. It feels like a new approach to the late 90's era of message boards and such.

They saw Lemmy becoming successful, corporate mistook Lemmy with Lemmings, and decided to go out Lemmings style.

...jokes aside, Cory Doctorow has a great text about that, called "Tiktok's enshittification". It's a four-steps process:

1. The platform is good for its users.
2. The platform abuses the users, to be good for its business customers.
3. The platform abuses the business customers, to claw back all value for itself.
4. The platform dies.

In my opinion it's also the result of management being disconnected from the platform that it manages, and not knowing fully the implications of their own decisions.

COVID.

COVID changed everything. In an attempt to recover quickly, companies ramped up their abuses to new levels. While billionaires defending them all had their masks removed as the world collectively realized that it's impossible to make a billion without exploring others.

Toss in back to the office mandates and rising costs while those same companies post record profits...all while the population is Uber sensitive to that kind of thing, and we're in the middle of a not so quiet proletariat revolution.

Thanks to COVID a lot of people realized that despite the elites best efforts, the enemy isn't left or right, it's us versus the super rich. And it's having a trickle down effect.

All these websites have almost always been net cash flow negative. They bleed venture capital to provide a service below cost in order to build a user base.

The problem now is interest rates have spiked. Rates have been basically zilch for much of the internet's history over the past 20+ years, so sites could actually operate for quite some time on super cheap debt that they almost never had to repay. And venture capital firms would just keep pouring money into the "next best thing".

Now that debt is rapidly becoming much more expensive to maintain, and those VC investors want their chunk of the pie back in their pockets. And they are going to extract it from every single one of these centralized services by whatever force is necessary. It's only just getting started, you watch.

The MacLeod life-cycle of corporations mirrors late stage capitalism pretty well:

Some people have come up with the word "enshittification" to describe the basic cycle of modern web services.

The cycle consists of three parts:

1. You make the service that attracts new users by providing what they want. Often you do that at a loss, because your goal is to gain a big enough userbase for steps 2 and 3.
2. Once there's enough users, you shift to attracting commercial interests instead -- vendors if you're running a store, advertisers or celebrities or other "big clients" if you're a social network, etc.
3. Once both users and commercial interests are hooked, you can start tightening all the rules and switching completely to profiting yourself and your shareholders.

I think it has to do with the Epstein and Maxwell case process. Maxwell had her fingers in many social media websites, especially reddit. I mean for Reddit she was the first user to hit 1m karma, and also one of the first powermods, controlling most of the powerful subreddits. Wouldn't surprise me if all the big rats are jumping ship before shit hits the fan.

I don't think all that many redditors are moving to Lemmy. Judging by the stats on join-lemmy, there are only several thousand monthly Lemmy users, which is nothing compared to reddit which had tens of millions daily users