From their website: The Gfycat service is being discontinued. Please save or delete your Gfycat content by visiting https://www.gfycat.com and logging in to your account. After September 1, 2023, all Gfycat content and data will be deleted from gfycat.com.
This has been a strange year.
Man, this really isn’t a good year for the internet
Or it could be a really fucking great year. It could mark the end of commercialised social media and the beginnings of truly widespread adoption of free and open alternatives.
I appreciate your optimistic view on the situation. I really hope Lemmy will one day reach the same level of popularity as Reddit.
I hope it will remain a bit more niche, but yeah.
You gave a hopeless soul some hope today. Thank you.
Just wait until the “targeted ad” bubble pops because people realize it’s all a fraudulently inflated market with little to no true value.
There will be wailing, and gnashing of teeth.
Entirely speculation, but I think this might be why some of the dominoes are already falling?
Like maybe all the ads pulled out of Twitter and saw that it didn’t impact the ad companies very much?
If so, it could be the true end to Web 2.0
Or maybe the best year?
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They really were foolish to sell off Redgifs. Idk how they thought a normal gif hosting service was more profitable in the long run than their porn gifs site that caught on like wildfire. Everyone at the time was like ‘wtf, sell the gify knockoff’
Typical corporate moralising. Tumblr blocked adult content to keep advertisers and it’s corporate owners happy and the site died. Snapchat sold off the adult part of their Gif business even though - let’s face it - what is Snapchat used for?
There seems to be a lack of acceptance in business that adults will be adults and you can’t sanatise the Internet to make it acceptable for advertisers or to impose the morals of minority religious groups on the majority.
Gfycat is presumably very difficult to monetise. We’re in another wave of the history of dotcoms where companies and investors realise being an Internet based country is not a license to print money.
Its not clear though how to make a free alternative to something like Gfycat. Someone has to pay for the hosting and bandwidth. Are we moving to a subscription based model for the Internet? For example the fediverse but with premium fast servers for those who pay and slow advertiser funded servers for this who don’t? Or Wikipedia like foundations for image hosting? Who knows.
let’s face it - what is Snapchat used for?
Mainly for chatting with friends. Who watches porn on Snapchat?
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I hope that subreddit has a foothold at lemmy.
Man this year has just been a total collapse of everything:
character,ai filtrations
GPT slowly being neutered thanks to societal concerns
Twitter being fucked by Mr. Elon “I know everything” Musk
Imgur cleaning house for no reason
Reddit dropping a nuke on 3rd Party apps
Netflix killing password sharing
Youtube feeling in to kill adblockers
-and now gfycat is about to collapse entirely.
What the actual fuck?
Yet another step toward end game capitalism where nothing’s free/affordable anymore and only way to consume basic entertainment is either through a paid service or absolutely ridiculous ads everywhere. Where CEOs are squeezed by shareholders for every last extra % in their returns and in turn makes their product as anti consumer as possible except for the top 1% that can afford it.
Tech CEOs: Turns out the cloud costs money. Who knew? What next, credits are going to send me bills, lol? I already spent that money.
Bonds are a really good deal right now, which makes more people want to loan the government money than each other. This leads to less people overleveraging, which most companies depend on for growth.
All of the businesses you mentioned were overleveraged, so it’s understandable that they’d crack under the pressure
(Note: The bonds market is referring to the US, but the effects are global)
Probably couldn’t make money and the VC funds dried up….
All the VC money is being dumped into AI right now.
Tech companies of yesteryear are starting to have to prove themselves in order to get funding, instead of relying on the wishy washy promises of old.
We can already see with Lemmy, that this phenomenon is giving breathing room to FOSS services.
I think it’s awesome, even if we’ll have to deal with growing pains for a while.
What even was their business plan? I never understood how’d they make money. I guess advertising is always the answer but how…
That’s why this year everything is going down. VCs demand you start making some money or shut down and nobody bothered figuring out how to make money
I am not a finance guy; this is my kindergarten-level understanding of the situation:
When the interest rates were hovering down around 0%, it was a no-brainer for VC firms to shotgun money out to everyone who walked past their office building. Most VC money doesn’t come from some rich dude’s pocket; it comes from banks and hedge funds and other deeply-market-tied entities. If any one startup they’ve invested in can win the profit lottery, the VCers will massively beat the rate of return they’d get for anything else. One big success can cover a dozen small failures, and, anyway, a business isn’t a failure until it’s a failure.
Now that interest rates are rapidly moving higher, those startup investments are less of a good deal. VC money is more expensive. VC firms are starting to close out their positions on start-ups that aren’t beating them market, because they want to stick their money somewhere more reliably profitable.
I like your humility, this was well explained and easy to understand.
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The interest rates are letting the VCs turn the faucet off - it’s not forcing them. Higher interest rates mean they can make more money by letting it sit in high interest bank accounts rather than actually exercising the money.
Meaning it’s less worth it to get out the old pocket book - still results in the same issues l guess though.
High interest rates makes money and debts go up at the same time. Good for those with money, bad for those with loans.
Business plan… That was the problem, the business plan was just a bunch of cat pics in a binder. Cute, but not so profitable.
No idea. It was likely privately funded so we’ll never know what advertising was likely the method
No idea. It was likely privately funded so we’ll never know what advertising was likely the method
I’ve never heard of gyfcat. Or so I thought. I opened the website and immediately went “oh! I know this site! I love this site! Oh wait… Aw man…” What a rollercoaster
So much porn, gone, reduced to ashes.
I don’t think gfycat had very much porn anymore. Most if not all went to redgifs.com
The internet is dying. Federated is the last stand.
Web 2.0* is dying, and good riddance imo. I’m ready for the return of grassroots social media and decentralized communities.
I started out on usenet and shitty ezboard web forums. Web 2.0 collapsing is just another inflection point, there’s always a replacement
The way things have been going I keep expecting to hear BBS’s are coming back.
What the fuck is happening with everything?
No more VC free money + enshittification
Gfycat was innovative for its time. Rest in peace…
The theme this year is that anything that doesn’t fit the IPO mold goes out the window I guess.
Even if you don’t have shareholders yet, gotta brown nose before hand to impress them.
So Reddit now becomes even more useless. Collection of DNS not resolving
Good point, and this raises an interesting topic: is there much value to old data from a link aggregator like Reddit when so many services are no longer available and the old links go nowhere?
Services like Facebook or Twitter are seemingly not as exposed to that type of issue since they’re less reliant on external content.
Nope, not really. I can’t tell you how many times I’ve found a really old reddit thread with links I wanna check out only for them to be dead. With the services reddit rely on for content going down, this is only going to accelerate.
http://gfycat.com/nippykindlangur and http://gfycat.com/brutalsavagerekt will live on.
NippyKindLangur and BrutalSavageRekt
Hey wait I’ve seen this one before!
“ The dotcom bubble burst when capital began to dry up. In the years preceding the bubble, record-low interest rates, the adoption of the Internet, and interest in technology companies allowed capital to flow freely, especially to startup companies that had no track record of success.”
Man, that’s a shame.
