this post was submitted on 23 Jul 2023
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Except that their business model of "bUt EvErYoNe Is HeRe" or "Mastodon/Bluesky is too complicated" seems to be keeping them afloat.
@Roundcat @chiz @Chozo They've lost MOST of their advertisers, and their paid subscribers are down to the folks who need their service and haven't yet figured out an exit. I don't think they have much time left, darlz.
I don't know about "MOST" as there are still a good amount of mainstream companies that advertise on the site. At least you wouldn't know it if you are still on the site constantly. And I'm mostly going on about the users there who don't like the changes there and constantly complain about them in articles or youtube, yet it is the only way they insist on engaging with their followers still.
The thing about Mastodon and Lemmy to users who exclusively use those sites is they are themselves a bubble. There are weeks I spend most of my web activity on kbin, and would believe reddit is on its death spiral. Yet I peak over there, and it's about as active as when I left it. I even see articles about reddit or twitters activity recovering that I never see get shared here, because at the end of the day, the narrative we want to hear is "Corporate site is dying, we are the future!"
@Roundcat @chiz @Chozo I know! And I mostly agree. I don't go to Reddit, unless I get a link from there but I do sometimes go to Twitter bc I had 30K+ folks I knew there, and I miss them. It rly is dying tho. Nothing but Nazis screaming bile, and stuff doesn't work half the time. The bile is acceptable, but not working? Nobody pays for stuff that don't work. Not for long.
I think Reddit will still be around, but when it comes to Twitter, the acquisition saddled the company with billions in debt amounting to around a billion in yearly interest repayment. Twitter already was barely making ends meet before that, and it only lost revenue for all the stupid decisions being made. Even if it was exactly as profitable as before, it wouldn't be enough anymore.
One day Twitter is simply going to stop working, or close off so much it becomes unusable, unless Musk personally tries to keep it afloat at expense of his own fortune, or someone is dumb enough to buy it off of him and do the same.
I also see a lot of wishful thinking in the Fediverse, but this is not the case here. People there may not want to move on, but it's not gonna keep it afloat. I already see a lot of people making their escape plans and linking alternative platforms every day.