this post was submitted on 16 Feb 2024
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[โ€“] otter@lemmy.ca 5 points 9 months ago* (last edited 9 months ago) (1 children)

Yep, quoted from the wiki:

Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. I call this enshittification, and it is a seemingly inevitable consequence arising from the combination of the ease of changing how a platform allocates value, combined with the nature of a "two sided market", where a platform sits between buyers and sellers, hold each hostage to the other, raking off an ever-larger share of the value that passes between them.