this post was submitted on 02 Jul 2023
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Well ok, Twitter and reddit are down for a round, but we still have Instagram, TikTok and ugh... Facebook.
But could lead to users realizing that these aren't public service institutions to take for granted, but companies that can fold and take your network with them.
Facebook/Instagram (Meta) is one I am not sure how to get a read on. They are branching out a lot, but I have no idea what they're doing to remain profitable. It seems like they're in "Throw everything at the wall and see what sticks" mode, hoping that they find a new niche before their sizable warchest from the 2010's runs dry.
They severely downsized once this year already and I have a feeling that won't be the end of the story. Wouldn't surprise me if they sell off/shut down Oculus in the near future.
Tiktok, meanwhile...well it's already undergoing enshittification (it is the subject of that original essay) and old people are starting to use it, so I feel like it's only a matter of time before it's no longer cool with kids and they lose a sizable chunk of their revenue stream and content.
Didn't they spend insane amounts trying to convert literally everything to run in VR - like the whole of Office 365 for example. I can't imagine them getting any return from that investment - why would someone at work want to wear a heavy headset instead of looking at a screen?
Pretty sure they are playing the long game with VR/AR. While the headsets are bulky and heavy now they are trying to build a software ecosystem for when the technology catches up and headsets are nearer the size of a pair of glasses.
Apple have obviously also seen where the tech is heading too and want in the game early enough as well. The price of their first offering is obviously ludicrous but in time the price and form factor is going to diminish. The first laptops and mobile phones were ridiculously large and look where we are now.
Zuckerberg said to his shareholders when he bought Oculus that they shouldn't expect it to turn a profit for a minimum of 10 years and possibly longer. He also warned to shareholders they would be pumping a lot of money in long before they see a profit.
Time will tell if it pays off for them.