Like many people I’m here because of reddit going to shit. Twitter has increasingly been shit. gycat is shutting down in September. To me it seems like lots of bastions of social media are crumpling, but as a previous active reddit user, I’ve been personally effected. Is this just a frequency illusion or has something changed in the world that has changed the business case of these sites?
Exactly this. The money tap has dried up post pandemic and they are seeking new revenue streams while also slashing costs. The hunger for perpetual growth to sate the investor class and their matyroshka nesting yachts is driving these decisions.
This is the corporate ethos now. The company I currently work for requires a minimum of 10% growth annually or we are failing. 9% and we are facing layoffs. Doesn’t help that we have a fixed customer base and new installations are a year long affair with RFPs and million dollar bids. I believe perpetual growth is a myth that will eventually catch up to all these corporations, but what do I know since I don’t have an MBA or a three letter title starting with C.
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