Like many people I’m here because of reddit going to shit. Twitter has increasingly been shit. gycat is shutting down in September. To me it seems like lots of bastions of social media are crumpling, but as a previous active reddit user, I’ve been personally effected. Is this just a frequency illusion or has something changed in the world that has changed the business case of these sites?
I think this is the web bubble bursting again. Venture Capitalists have piled money on a bunch of sites and products, we’ve become used to good free services.
The economy has taken a down turn and there is a increased demand for instant profitability and more and more social media companies realize they have overestimated how many people are willing to become paying customers. So they are forced to cut the product in order to save money instead.