this post was submitted on 30 Jun 2023
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Technology
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These social media giants seem to be self destructing themselves on purpose.
Seriously though, what is causing all of these various media platforms to ramp up the attacks on their users so obviously? Reddit blocking apps, Twitter login-hiding posts, Google shutting down adblockers. Is it coordinated? Does it just make sense to make a rush for money when every company is doing the same?
A lot of the tech companies were slammed by investors over the last two years for missing their earnings and many of them are still struggling to go back to 2021 optimistic growth rates. The layoffs last year have also cost them a lot of their best talent, so the quality of innovation, decision making, and execution has suffered. You are now left with a bunch of older executives who never really understood that it was their younger talent that was the core of their company's success, so they fall back on older methods like increasing prices and cutting costs to try and lead the board / shareholders into thinking that their ridiculous executive salary packages are somehow justified.