I keep hitting the limit by scrolling down. This is stupid.
this post was submitted on 01 Jul 2023
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Mildly Infuriating
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This isn't mildly infuriating, Musk is being the biggest fedi advocate out there! He's selflessly nuking his own site so he can drive traffic to decentralized alternatives. This is a good thing lol, and should be an important lesson on link rot, and that social media should never be the primary method of communication.
Maybe it was just me but Musk has never seemed like someone who actually understood tech. Just a rich guy who buys up other's work and talks a big game. I knew the second I heard he bought Twitter it was going to crash and burn. He's doing it way faster than I thought possible.
Of course he will eventually say this was all on purposes and not that he is crap at business and tech.
Therefore any company that puts out notices or alerts via Twitter should immediately exit the platform. Running their own server on mastodon would be a better bet
And it only cost $44 billion.
hello I'm from the future. Elon musk has fulfilled your prophecy.
billionaires gonna bill
what. the fuck.
Almost certainly this isn't anything to do with scraping. Like with Reddit, those with a stake in Twitter stand to benefit from AI and, as far as I know, there's no mass reposting (retweeting?) effort to something like Mastodon.
That would be trivial to block anyway, since it would be easy to identity the service accounts and source IP's of the requests. No need to impact average users.
What's more likely is he hasn't paid the bill for his cloud infrastructure and no longer has the capacity to serve so many users.
IMO, that's what you get when you fire half of your staff.
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It must be nice to be able to waste 44 billion dollars and not miss it.
I could live comfortably for the rest of my life on 1/10,000th of what Elon spent.
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He's impulsive and doesn't know when to shut up. I got the distinct impression that, initially, he was absolutely not serious about buying Twitter. It was a joke/jest. BUT, because his antics affected their stock price he actually got forced into the purchase and now he's desperately trying to figure out how to make the purchase worth what he actually paid, which is fine and all, except he seems to be leading by impulse, not by consensus or logic. He wakes up in the morning, has some random ass idea and implements it without any oversight. Even his new CEO straight up admitted that she is basically a straw man CEO who will offer no friction to anything Elon wants to do.
I think it's important to remember that these companies DID NOT CREATE THIS DATA! They are protecting things that are not theirs.
But don't you think it's their site so they could do whatever they want to ?
Like for example, you own a huge plot that could be used for agriculture and you let your neighbors plant and grow fruits and vegetables in them. They also happened to use water from your house and you noticed that the water bills are increasing so you put in some sort of a restriction to reduce the bills by telling they can only use X liters of water daily.
And let's say, some of the neighbors give you some of the fruits and vegetables so you let them use X+1 liters daily.
So naturally the neighbors who got X liters would make a fuss about it but eventually the plot and water belongs to you while only the seeds,plants and fruits belong to the neighbors.
Here, the plot and water is like Twitter's servers,manpower, API and expenses
Plants, fruits and vegetables are your content you post.
So if you can't get enough of it(land and water), the best is to leave that plot and to look for another one right ?
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He’s doing gods work
At the risk of sounding tin-foily...
Twitter's financials for server costs have never made sense - the amount of money required to serve the sheer volume of engagement can't possibly have been resolved by ads that Elon is somehow refusing to keep tapping into.
I'd wager that some other interested party engaged in some type of private-public partnership was floating costs for (let's call it "privileged") access to the backend of Twitter -- granting a bottomless pit of funding to keep the platform running no matter the cost.
Once Twitter left the hands of someone deemed trustworthy, that life support doesn't stick around -- leaving Twitter facing complete insolvency by October of this year unless Musk literally does whatever he can to reduce engagement to save on costs.
Twitter loses more money when it has more engagement. If you have 100k users and add a new one, every interaction that additional user makes with tweets viewed by those 100k existing users requires 100k updates pushed to those 100k users' pages. Every like sends an update of +1 like on the tweet to every one of the 100k users. It becomes significantly more expensive per user engagement.
The ads being seen by additional users don't cover that constantly-compounding cost to keep engagements up to date across the platform. Musk isn't being honest about the reasoning (web scraping issues my ass) and is scrambling to buy desperately-needed to keep the platform up past October.
I think this goes to show just how impossible a business model like Twitter's was from the jump and shines a light on the absurdity of it being self-sustaining without a massive source of reliable external funding.
Edit: fixed typo
The past 15 years of growth in anything technology adjacent has been fueled by one thing: Extremely cheap debt. Interest rates have at been rock bottom since the 2008 crisis, and they've only started to tick up recently. That means the ability to fund infinite growth for basically nothing, so tech companies have relied heavily on debt financing.
Now though, that's no longer viable. Silicon Valley Bank was very heavily involved with all these tech companies, and it went insolvent in March largely because of rising interest rates. They held a lot of long term bonds at low interest rates. In normal conditions, rising interest rates mean lower bond prices and unrealized losses, but not a major problem because they can just hold them to maturity and never realize the loss. Bank runs forced SVB to sell the bonds for huge losses though, turning unrealized losses into realized losses, and a non-issue into a major problem.
Now that cheap debt is gone, these tech companies are desperately scrambling to attain profitability. It hasn't been discussed much, but this is a big reason for the changes at both Twitter and Reddit.
Additionally, even YouTube is trying to enforce ads more strongly and gyfcat is closing down.
People are looking for conspiracies, I like them too, but this was just a bubble waiting to burst.
It will be interesting to see what will come after.
They were previously publicly traded were they not? How do you figure that backend funding worked if it wasn't shown on the balance sheet?
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I am a dull and simple lad, but I've held a belief ever since Musk purchased Twitter he did it to wreck the platform. I'm still undecided if he's just looking to liquidate its assets, or drive off reasonable users so he can turn it into his personal soapbox.
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