Enshittification

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What is enshittification?

The phenomenon of online platforms gradually degrading the quality of their services, often by promoting advertisements and sponsored content, in order to increase profits. (Cory Doctorow, 2022, extracted from Wikitionary) source

The lifecycle of Big Internet

We discuss how predatory big tech platforms live and die by luring people in and then decaying for profit.

Embrace, extend and extinguish

We also discuss how naturally open technologies like the Fediverse can be susceptible to corporate takeovers, rugpulls and subsequent enshittification.

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JPMorgan Chase warns 86 million customers they might have to start paying for their bank accounts (finance.yahoo.com)

submitted 4 months ago by HailSeitan to c/enshittification

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cross-posted from: https://lemmy.world/post/17274141

The potential charges, says Marianne Lake, CEO of consumer and community banking at JPMorgan, are a result of new regulatory rules that cap overdraft and late fees. Lake says Chase will be passing along those increased expenses to customers, which would put an end to now-free services such as checking accounts and wealth management tools. And she says she expects other banks will follow suit.

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[–] Chocrates 6 points 4 months ago

Welp the day that happens I'll bring my tiny bank account elsewhere. Even if the other banks have similar fees. Chase has done nothing to gain my loyalty or trust and I have used them since they were Washington Mutual.