this post was submitted on 21 Aug 2023
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You say "broken promises" I say "the plan all along" and "bait and switch".
Yep. The business model has always been "Lure them in and stifle competition with a low initial cost. Then when we have the market we can jack up the price." Enshitification at its best.
This is just capitalism at work. Capitalism = enshitification, exploitation, and destruction.
Literally working as intended. Not sure why it takes people so long to figure this out.
A healthy dose of western/capitalist propaganda since birth and until death helps a lot. So many people under the illusion that this is the natural progression of civilization, or the best.
Also known as the Wal-Mart business model.
A lot of these things were proudly unprofitable, which is basically their way of getting around anti-trust violations. If they had a revenue stream to make the business profitable (outside of investors handing them more cash) then they'd be hit with anti-trust lawsuits for offering services at a loss in order to drive the competition out of business. But instead they just convince investors to hang on long enough to achieve the same goal, then raise their prices when they've got too much power to fail.
"Rent seeking" has a nice ring to it in this case, I think. The previous situation was fine, except for not being profitable enough for the right people.
Yeah it’s called capitalism