Growth reaches a saturation point and now they have to cannibalise every single thing in order to continue growth (in company values). This comes at the expense of product quality for the person using it but that’s fine if you have no competition because everything is a monopoly.

The capitalist system is the problem. The system will ALWAYS reach this endpoint for as long as it is a system that demands infinite growth.

Recently? This is a long time coming. Users have been accepting all kinds of shit from big players without complaint. Even if they protest it’s usually just performative and they keep using the services, sites and software that violates all kinds notions of user and privacy rights. Most people unfortunately are (understandably) not equipped to really even understand the kind of shady shit these companies pull on the daily. The internet is going to shit and its users will gobble it up and ask for more. It has been frustrating watching this happen, but there’s really very little that can be done.

Because for the first time in 14 years money is no longer free.

Right now the interest rate sits at 5% and it will remain there for the foreseeable future. Investors no longer have the patients to wait for growth because bonds are actually investable now, so all your “get user first find business later” companies began to panic and tries to squeeze everything out of its users.

Hilariously, the only social media company that will come out of this relatively unharmed is probably Facebook, because their unethical practices actually makes money

Luckly we still have free platforms like lemmy, browsers like Firefox, networks like tor or i2p, torrents, monetary system like bitcoin.

We can step out of the world of and we are the ones who have the most intruments to do so.

I haven’t read the replies but there was a very interesting episode by Derek Thomson’s Plain English podcast which I found incredibly interesting.

Derek made the conjecture that we were on a cusp of a big paradigm shift in the Internet.

For the last 20 years, it was essentially about building a consumer basis. So companies like Netflix and Facebook and Amazon did not care about current profits. The point was to just get consumers, drive out the competition, and commandeer the monopoly.

Now and especially post Covid companies like Twitter are realising that this isn’t going to work. The next movement is going to all be about paying models. This is what we’re seeing with Twitter. This is what we’re seeing with OnlyFans or Patreon.

So in light of the above comments, none of this is surprising. The next era will be about paid models of the internet.

I need to find that episode as it was extremely prophetic. It might have potentially been this one https://open.spotify.com/episode/2zRha9y46btKdAfwfHpvQ5?si=_jkP3iX7TXOesHLsoY9Vxw

The tech sector just hit a major correction recently. Wall Street found companies like Google to be overvalued and as such their stocks suffered. This is Google trying to claw back some of that value. See step 3 in the enshittification process. This isn’t just Google. It’s the entire tech sector.

and now Google of all companies wants to lock down the whole internet?

Of all the companies, Google always seemed the most likely, both to want to and to be successful. They’ve tried before, sometimes in small ways, sometimes in larger more obvious ways (AMP, the implementation of content filtering in Chrome etc.).

They’re the world’s largest advertising and data harvesting company. It’s their business. Of course they want to lock the internet down to serve their goals of learning as much about you as possible and using that data to shove ads in your face.

Whenever using any Google/Alphabet product you have to ask yourself, “am I ok with this thing I’m about to use being built by the world’s largest advertising company?”. The answer should be “no” more than it is “yes”, particularly for things that have access to lots of your data, like web browsers, phones, home speakers etc.

Check out “enshittification”

AI happened. The promises, benefits, opportunity for massive financial gain, and the clear and present danger of how transformative it can be have all caused internet-bases companies to throw out the rulebook and lose their collective minds.

Their fake advert viewing numbers and YouTube’s inability to monetise without ruining itself are forcing them to think of new ways to encrapsulate user’s and drain their wallets.

Instead of, you know, providing a service people want and would pay for.

Interest rates going up means investors are demanding more profit so all the tricks web companies have held off on till now are coming out.

The enshittification of the internet shall continue.

We will fight and we will lose, as depressing as it sounds. The vast majority of people just don’t and won’t care.