Enshitification drives stock prices. Only the rich care about stock prices and they have no interest in using the platform. The platform dies off a death of a thousand cuts… story as old as time
I still don’t understand it, how does making a product worse drive stock prices?
Because they make the product worse to gate working features behind a paywall without spending development time and money. It’s the opposite of innovation, it’s going backwards. The parasite class (investors) reward that behavior with more investment because now the company has increased profits by selling the working used-to-be-free features at a premium. They couple that with buybacks and layoffs to juice the stock price … and then discard the husk of a company and start a new one
