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this post was submitted on 07 Jul 2023
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I disagree, unprofitable sites becoming popular then being destroyed by aggressive monetization ultimately resulting in their failure and the loss of loads of useful information isn't something to strive for.
These sites need to not hemorrhage money, they shouldn't be milk cows either. The problem is unnecessary overhead, for example reddit having 1,400 employees.
We're not arguing against profitability. However, making growth and profit central to social platforms is the culprit.
Tech companies keep getting funding by selling pipe dreams to clueless investors and then strip mining it out of everything people liked from it.
There needs to be a better, sustainable and scalable growth model for social platforms. The difficulty is that a not a lot of people will pay for it, and to be fair it wouldn't be good to restrict it to only those that do.
Tatar- is correct. "growth" is the problem inherent in publicly traded corporations. Growth sounds good. Living things grow!
But growth in this case means expansion,literally unlimited (in theory) which is how you take something quite viable (coffee, food, net service) and turn it into a monster that needs to endlessly grow, cut corners, cut salaroes, etc.
Growth has little to do with profit. Public corps are sold (shares) and to maintain/increase value of those shares, get monetarily bigger.
The whole "IPO" thing is a model based on this expectation of future growth.
Not profit salaries and goods, like a corner store. THAT could be sustainable.