this post was submitted on 02 Jul 2023
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What the hell is going on?
Everything is falling down:
Do ya remember photobucket? .. Pepperidge Farm remembers.
Imgur doesn't even load for me on Firefox Mobile + uBlockOrigin. It also tries to redirect me to their broken front end if I just want the .jpg file. I absolutely hate them and wish people would stop using it.
After 2008, interest rates were set to zero and basically stayed there for the next 15 years. What that meant was that investing your money in literally anything was better than putting it in a savings account or loaning it to the government (bonds). What thatmeant is that any company with a dream and a product found themselves swimming in piles and piles of venture capital fund funds. And all that money meant that customers were getting a lot of stuff at or below cost from companies that had lots of cash to spend, and no real concern about making it back. Now the free ride is over and everyone is trying to cash in, only to find that’s not as easy as they made it sound to their investors.
Enshittification is a sexy concept and I understand why everyone has glommed on to it. Unfortunately, the interest rate explanation is the much more complete and correct one.