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?
Most web companies never turned a profit and have business models that wouldn’t ever be profitable, endless growth propped up by venture capital was all they strived for. Then hope they get acquired or do an IPO and let somebody else hold the bag - basically a Ponzi scheme. Investors realised this doesn’t really work anymore, so the free money ran out. Also, the AI gold rush means VCs have something else to throw their money at.