LTS distros encourage companies to stick to old software forever. When an LTS version gets EOL’d, they realize that upgrading applications to work with the new LTS version is going to be impossible due to the big time jump, so they keep running an unsupported OS.
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The only LTS policy I've seen that I like is Django's, which is specifically designed to make it easier for libs and apps to jump from LTS to LTS. (full disclosure: I'm a django core team member, but wasn't involved in that policy's design)
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