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this post was submitted on 30 Jun 2023
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Technology
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I was just thinking the exact same thing. Things seems to have accelerated lately, but I don't know if this is something regular users even notice or care about and it just feels significant to us because of the recent twitter and reddit idiocy.
I am super excited about all the attention the fediverse is getting. There are still a ton issues to be solved here, but decentralization feels like the next evolutionary step of the web.
One of the issues is "who's gonna pay for it"? And I think the answer is something like "most users are", in the sense that you'd pay your local instance, the same way you used to pay for newsgroups. Thus keeping it out of the hands of venture capitalists, hedge funds and billionaires in general, because hopefully we've learned that that's a bad thing.
Big tech was basically a big dumping scheme, built on top of cheap money (i.e. low interest rates). This prevented smaller competitors from challenging oligarchs, but now the interest rates are too high for this to be sustainable, so they are scrambling to make their businesses actually profitable without admitting the entire business model was unethical and, well... just plain stupid in the long term.