Enshittification:
Enshittification, also known as crapification and platform decay, is a pattern in which online products and services decline in quality. Initially, vendors create high-quality offerings to attract users, then they degrade those offerings to better serve business customers, and finally degrade their services to users and business customers to maximize profits for shareholders. [Wikipedia]
The effect of self-important investors on damn near anything phenomenon. I’m not sure how well this fits a social media platform in which the problem appears to be an invasion of dishonest users intent on using the platform for ends unintended by the inventors of the platform itself, though.
Noted in “X is Elon’s world. Threads is a mess. Is Bluesky any better?,” Maura Judkis, WaPo:
Bluesky can’t be an online utopia forever. Where attention goes, commercial interests follow. The bitcoin scammers have already started. Brands and politicians are following. Bluesky is currently funded through venture capital and is exploring a subscription model for the site, which is currently free to use. Donovan cites internet scholar Cory Doctorow’s theory of “enshittification,” the slow decline of social media sites as they promote commercial interests over user experience.
