There are lots of reasons. One of them I've seen is that monetizing a thing like a website or online community without bleeding it to death is hard and presents unique challenges. But the CEOs of the world are trying to do it with the same skillset they used to become regular CEOs. It is the issue behind a great deal of problems... our society winnows down business leaders to one type of person for efficiencies sake, but then that type of person is rarely capable of non-exploitative or long term thinking.
this post was submitted on 16 Jun 2023
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It's corporate greed. They're just trying to get (more) money out of their users pockets. They're starting not to design their products in a way that the most people use it, but in a way that they get the most money, time and useful, valuable data from their users. That's less people but more profit.
Netflix is showing similar behaviour at the moment.
It' simple: Greed is the reason.
Low effort guess, VC's cashing out before society collapses.
Centralization, money, power, money, stocks, money. These are just a few reasons. Did I mention money? Oh, and also, money. They're sucking up to investors, and finding ways to get through the up-coming(or on-going) recession without major losses. The only losses are ours.
I think it has something to do with fear of an upcoming recession, platforms need to prove to their shareholders that they can still maintain profitability even in the face of economic downturn. Keep in mind the US hasn't experienced a real recession since the tech boom, which may explain why all this money grubbing is so severe and sudden.
Because user freedom and experience is diametrically opposed to corporate control and ad driven profit seeking.
These companies have continued to function on round after round of VC fundraising, diversifying their corporate holdings to the point that theyre basically wall street funds, and providing little innovation past initial product launch. When the stock market takes a downturn they become insolvent and they have to squeeze profit which means squeezing users. They have no choice, most of these business models weren't viable to begin with.
Running out of VC dollars, now they gotta actually make a profit.
A lot of these companies have never been profitable and have been running on VC money on speculation alone until they reach critical mass and can turn on the monetization streams.
because investors started wanting them to make money
Because they all saw that Elon repeatedly shat all over Twitter and users praised him for it instead of running away. Now all of them are firing half their staff and putting all pretense of caring overboard.