Enshittification
An article about online social platform getting worse: Social Quitting by Cory Doctorow. It could be a motivation introduction to a wonderful economic theory paper. I won’t be surprised if it hasn’t already been quoted somewhere. The logic’s basically three phases: Platforms with network effects get more valuable as more people use them, which drives rapid growth. But the same effect creates high switching costs: leaving means losing access to all your relationships. Early on, platforms minimize switching costs to attract users; once dominant, they maximize switching costs to keep users trapped. Network effects + switching costs produce lock-in. Users unable to leave, platforms can subtract user surplus whatever they want. First, surplus is shifted from users to advertisers; later, once advertisers are also locked in, surplus is taken from them too. The platform degrades the service to extract maximum value from both sides. Eventually, degradation reduces benefits enough that leaving hurts less than staying. Switching costs fall, people exit, and inverse network effects kick in. So, enshittification isß not a moral failure but a structural outcome of monopoly platforms optimizing value extraction under high switching costs.