When you wonder "why is [NEW FORMAT] suddenly a thing?", the dynamic is always the same. Early advertising is fantastically lucrative. Once the stampede to the format starts in earnest, the margin drops quickly, and the cycle will have to repeat. It's driven by novelty.https://twitter.com/JayCoDon/status/1385617258353922055 …
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The reason I want to add newsletter support to the site is not because I believe in them, but precisely because I don't. That stuff will disappear without a trace otherwise. Archivists walk behind the elephant parade of the New Economy with shovels, trying to salvage what we can
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Zooming out, the "chasing new formats" pathology in online publishing is another symptom of too much capital with no place to go. The investors get sold on a dream. Other people act rationally, chasing whatever formats those investors are subsidizing at a big loss for the moment.
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As always, the biggest profit is to be made effectively selling new dreams to the investors. It's become a highly refined art form and the great creative legacy of our era. But why is all this surplus money bottled up and useless, instead of in my pocket? That part stymies me.
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The pivot to video was because Facebook was 'lying' about the metrics
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The details of who is lying (to themselves or others) in each turn of this wheel aren't particularly important to the dynamic
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That video fad was also the result of outright fraud by Facebookhttps://en.wikipedia.org/wiki/Pivot_to_video#:~:text=Following%20a%20scandal%20in%20which,impression%20that%20there%20was%20customer …
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