You can provide quality services only for so long. Eventually quality will get in the way of profits.

Rabbits

The user bubble has popped now that investors started questioning why the fuck they’ve been investing huge amounts of money into companies that make no money just because they have lots of users. With that investment money drying up, these tech companies are desperate to start making a profit so they can survive and grow their value still.

TLDR: investment in unprofitable tech companies is drying up and companies that aren’t profitable are scrambling to make money.

I wonder if restricting API access might be related to the explosion of GPT where ML companies need training data and they've been sucking it up from everywhere they can. Reddit and Twitter realized that they could charge these companies for access instead and hence all of a sudden API access costs money.

Money. It really is that simple.

Reddit wanted to kill third party apps because they have ad blocking features and don't show unwarranted sponsored posts. Reddit wants to serve users as much ads and sponsored content as possible, which was not really able to happen with third party apps.

"Enshittification exerts a nearly irresistible gravity on platform capitalism."

I feel like they all see the inevitability that AI will drastically change the money model very soon. And it will not be to their profit, so best make every penny they can right now is their mentality.

Dr. Capitalism, or How I listened to stop worrying and love the dollar.

Check out Cory Doctorow's post on a term he coined called enshittification.

$$$ M O N E Y $$$

Cory Doctorow termed it "Enshittification", and wrote about the process here: https://pluralistic.net/2023/01/21/potemkin-ai/#hey-guys

Interest rates go up. Quantitative Easing go down.

They might have to play with real money lol

capitalism — they want more money

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