Wow, the 'enshittification' of the internet is really taking off now. Sites are either already dodgy, or well on their way there!
I know this has been a bit of a slow burn for a while now, but it really feels like it's all coming to a head suddenly.
We really gotta back decentralized platforms if we don't want everything to become an overmonetized hellscape where all information and communication is skewed to suit business interests. I wouldn't pay for Reddit Gold and Twitter Blue but I should send some money to the Lemmy, Kbin and Mastodon folks.
Things happen slowly, then all at once.
Oh sweet, it's dot.com 2.0. Grab your popcorn, it's time for the internet to implode... again! Never ever underestimate shareholders' willingness to self-destruct a product for short-term profit.
The Great Internet Recession™ has begun
Forreal, what's going on? Why does it seem like so many separate sites are suddenly so much worse/going downhill quickly?
Our entire Internet enjoyment has been heavily subsidized by venture capital for the last 30 years which hoped to monetize us more than they have been able (believe it or not).
Now they are calling in their bets...
Billionaires bought the internet and now they're realizing that it isn't profitable.
Apparently they have been living on life-support.
I can't claim to fully understand how it worked, but apparently as long as sites could show user growth they could attract investments, but with inflation causing interest rates to go up (and other economy hocus pocus) , that money is quickly drying up.
I don't know if the investors believed that if the user base could grow large enough, someone would buy the companies, or they suddenly could come up with some fantastic monetization of said user-base.
Now as companies are listed on the stock exchange, and facing the falling investor interest, they are expected to react (aggressively) to secure future revenue.
Adding to what you said about interest rates: We're at the end of a long period of cheap borrowing (very low interest rates) during which overvalued assets were used as collateral to secure loans for investments. These propped-up assets are beginning to drop to their true (intrinsic) values. In other words, speculation and irresponsible practices were propping up a house of cards that's starting to collapse, and now investors are scrambling to cash in or cut losses wherever they can. So they're deciding that time has run out for online platforms that promised to grow but still haven't hit their numbers/monetization goals.
tl;dr: Infinite money glitch got patched (because it was wreaking all sorts of financial havoc) and now investors need to end life-support for risky/unprofitable investments.
It’s like the enshitification cycle somehow synced! https://pluralistic.net/2023/01/21/potemkin-ai/#hey-guys
On Baconreader it wouldn't show a gif, it would just be link, which was pretty good.
His name was Bacon Reader.. His name was Bacon Reader..
Had no idea this was even at risk of shutting down...
The times, they are a changin'...
I've watched the internet evolve since I first logged on to CompuServe in 1990. I don't think I have seen such a dramatic and fast change since the beginning of the WWW over crap like CompuServ.
Gfycat was the only good gif hoster. The rest, tenor, giphy, etc, are all corporate buzzfeed slop, that were primarily used by dimwits to decorate their shitty blog posts with (remember the various reddit admin feature announcements that had like 300 stupid gifs in them?)
So, twitter, Reddit, Imgur, and now Gfycat are all killing itself
Has the internet bubble finally popped?
The privately-owned for-profit Internet is starting to pop. User-driven FOSS will reign supreme.
Just like the good old times of internet. When every kid had a hobby and installed a forum software into a shared hosting to spend time with others. "If you build it, he/they will come."
You mean popped again? It has already popped back in 2002 with the dot-com bubble bursting. Seems investors never learn.
Kinda glad GIFs are dying.. they were beyond annoying specially in discussions. didn't help that reddit started incorporating them into the comment section.
Where are my data horders??
This is insane. I wonder what other relatively large internet service will go down.
Apparently PornHub already lost 80% of their traffic due to age verification laws. I'll add the source when I'll get back to it.
Edit: https://www.theverge.com/2023/7/3/23782776/pornhub-blocks-mississippi-virginia-age-verification-laws
Edit 2: Maybe I misunderstood, see below comments
Reading the article would make me believe it's 80% of traffic from Louisiana and not overall. So they will be fine lol.
Still Though, when Pornhub falls, that's when we know were in trouble.
I feel like that can't be true, I imagine a huge amount of pornhubs users are international
It’s a poorly written sentence (not surprising as it’s The Verge lol) but I think they mean they lost 80% of traffic from Louisiana when they started enforcing age verification in that state which is why they now just block access entirely to states that enact these laws instead of bothering with the age verification.
This is a most excellent place for technology news and articles.
