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First Look: Loops, by Pixelfed
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If I understand it right.. it will be much more costly to host videocentric platform than other types of content. A serious proposal for sharing the burden of hosting will likely be vital - through funding or decentralized storage/processing. Havent heard about that yet.
the videos get automatically deleted after some time.
The very first Youtube video is still up. Any serious competitor is going to need to offer that level of reliability with added benefits to woo users over.
have you considered that a platform for sharing short, vertical videos, developed by a single person, perhaps isn't trying to become a "serious competitor" for Youtube?
Loops isn't competing with youtube. I doubt you would be able to find the first tiktok.
YouTube can't even keep up with the amount of 4k and 8k video being fed into it.
what you're seeing with ads is them trying to reduce their burden.