The Future. The internet is undergoing a massive transformation. And if this generational shift proves anything, it may be that the internet is inherently destabilizing — and building a business model around the latest web iteration could mean that its success will be ephemeral.
Video killed the text star
Wired writer Jason Parham argues that the millennial internet exhaled its final breath when the news media sector lost more jobs in 2023 than it did across 2022 and 2021 combined.
- In April, BuzzFeed News closed shop.
- By fall, Vice downsized, and Okayplayer laid off its editorial staff.
- Jezebel was forced to shutter, only to be rescued from an early demise when Paste acquired the feminist site in late November.
Nothing lasts forever
Perhaps the final nail in the coffin has been social media’s metamorphosis from platforms of creativity to those of sponsored content.
- Tumblr, which empowered voices that might have otherwise gone unheard, will no longer allow creators to make paywalled content starting this month.
- Twitter (now X) has become infested with misinformation under Elon Musk’s ownership, prompting an exodus of users (and ad dollars) from the platform.
The internet will always be in a state of flux — fun and fickle all at once.