this post was submitted on 25 Dec 2024
1428 points (98.2% liked)
Greentext
4679 readers
1407 users here now
This is a place to share greentexts and witness the confounding life of Anon. If you're new to the Greentext community, think of it as a sort of zoo with Anon as the main attraction.
Be warned:
- Anon is often crazy.
- Anon is often depressed.
- Anon frequently shares thoughts that are immature, offensive, or incomprehensible.
If you find yourself getting angry (or god forbid, agreeing) with something Anon has said, you might be doing it wrong.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I feel like people are ignoring that Netflix was bleeding money during their "golden age". They only switched to being profitable a couple years back. A lot of times what people describe as enshittification is just unprofitable companies having to come up with an actual business model as venture capital dries up.
Also, merry Christmas:)
Netflix has a market cap of 300bn. Public markets picked up right where venture capital left off no bother. The problem I think was the competitive forces as much as enshitified business model, though perhaps one cannot exist without the other. Certainly without doing their own content they could easily have become ludicrously profitable as a redistributer only, though I'm not convinced it would have stopped everyone and their dog moving in on the space.
Facebook is really the cleaner example of enshitification. They could have happily printed modest money for ever as the preeminent social network, but they took the greedy approach and morphed into a cesspool.
Merry Christmas to you!
If you take venture capital, you sacrifice your ability to not be greedy. Could Facebook have even existed without VC? Facebook didn't have ads during its startup IIRC, which meant they had no revenue.
That's a really interesting hypothetical. They always had ads but obviously the early scale and scope was smaller, so revenue was piddling early on. They had pretty limited costs though and were a super hot ticket to give capital to. I mean they needed some kind of financing for their trajectory, which maybe anyway would have pushed them to monetize aggressively any which way.
Ultimately I don't think we'll ever know and the examples of people choosing not to get filthy rich off the back of these innovations are extremely rare. Even when e.g. openAI gets set up explicitly as non profit it gets bastardised, so what chance does a regular joint stock company have of operating in the interests of consumers.