Sounds pretty depressing for the future.
https://www.ft.com/content/6fb1602d-a08b-4a8c-bac0-047b7d64aba5
6 replies (most recent on top)
did you all not see all the Temu videos in the superbowl? history repeating
It's been a schwit show for 6 or 7 years now...and the show is still just getting started.
Hwdy boys!
wanna bypass the paywall -> https://github.com/iamadamdev/bypass-paywalls-chrome
BTW, s**t will hit the roof soon in finance.
From Wiki
The term enshittification was coined by Doctorow in a November 2022 blog post[2] that was later republished in Locus magazine in January 2023.[3] He expanded on the concept in another blog post,[4] which was later republished as an article in the January 2023 edition of Wired, in which he said that enshittification is how platforms die:[5]
Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. I call this enshittification, and it is a seemingly inevitable consequence arising from the combination of the ease of changing how a platform allocates value, combined with the nature of a "two sided market", where a platform sits between buyers and sellers, hold each hostage to the other, raking off an ever-larger share of the value that passes between them.
According to Doctorow, new platforms offer useful products and services at a loss, as a way to gain new users. Once users are locked in, the platform then offers access to the userbase to suppliers at a loss, and once suppliers are locked-in, the platform shifts surpluses to shareholders.[6] Once the platform is fundamentally focused on the shareholders, and the users and vendors are locked in, the platform no longer has any incentive to maintain quality. Enshittified platforms which act as intermediaries can functionally act as both a monopoly on services and a monopsony on customers, as high switching costs prevent either from leaving even when alternatives technically exist.[5] Doctorow has described the process of enshittification as happening through "twiddling"; the continual adjustment of the parameters of the system in search of marginal improvements of profits, without regard to any other goal.[7] Enshittification can be seen as a form of rent-seeking.[5]
Paywall… no thanks
And people say Schwab can’t be a leader in anything…