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?
The high times are over and money ain’t cheap anymore. We’ve lived in a fantasy land of low interest rates for over a decade now. These companies, and more importantly their VC backers, want to see the same returns on their investments but now they have to actually make that money. That means squeezing customers for more with less.