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Unlimited venture capital money for 20 years have allowed social media companies to basically do whatever they want without listening to their user base. It was good when they were trying to grow the user base. But now that they are trying to squeeze every dollar out, we're seeing the dark side.
Contrast this with old school media. They are mature and must turn a profit through their advertising. And they are absolutely terrified. Every TV show involves consultants who obsess over tiny details that could make the difference of half a ratings point. They know that if they scare the audience away, they go out of business.
Eventually the tech companies will reach the same level of maturity, but we're not there yet.
