“What I believe we’re facing is more of a reckoning with many of the concepts and heroes of the past decade, and the consequences of over a decade of rot economics, where companies were rewarded and celebrated only for endless growth of revenue and headcount, and venture capital pumped billions of dollars into businesses that either shouldn’t exist or didn’t need to grow into vast empires.”
100% THIS!
All of these companies have been money losses from the start. They make massive amounts of money, but they just keep spending more and more and more. Infinite growth is a myth.
Regardless of what happens with all the social platforms, I’m just happy to finally see the Fediverse taking off, giving us choice. That also means the choice to NOT use it. If someone uses Reddit or Twitter over Lemmy/KBin/etc or Mastodon/GoToSocial/etc that is their choice. My choice to is be on an open internet with me controlling my data.