@Flisty @pluralistic
This stock market bubble has another similarity: the tech stocks have become a kind of monopoly, there's nowhere else to put your money, so the lock-in is even worse.
Q
qole@techhub.social
@qole@techhub.social
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Ohhhh. -
Ohhhh.@Flisty @pluralistic
While I don't think a stock market bubble is enshittificaton, that article made me realize that there's a strong similarity. Investors and analysts get drawn in by a rapidly ascending stock, and then they're "locked in," with very literal switching costs. Everyone is invested in keeping the stock price going up, and so they'll accept flimsier and flimsier reasons to keep pushing the price up. This goes on until the charade cannot continue, when the emperor is standing completely naked in front of the crowd and nobody can pretend anymore....
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Ohhhh.Ohhhh. It all makes sense now.
Cory Doctorow @pluralistic points out that Trump's trade shenanigans are all part of a long history of US enshittificaton of the international trade system, for all the same reasons as Facebook's and YouTube's decline.
Who would have thought that an international trade system could be vulnerable to enshittificaton? It turns out that it breeds in the shadows of all kinds of monopoly.
https://pluralistic.net/2026/01/26/i-dont-want/#your-greenback-dollar