Technology
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
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The term you are looking for is enshittification
From the post: “As a result, these platforms were (and are) a form of bait-and-switch, the underpinning philosophy of Cory Doctorow's "Enshittification" theory, where platforms build massive monopolies based on offering good, useful services, and then slowly turn the screws on the customer to seek ever-growing profits. Yet as I've noted before, I feel that enshittification misses one crucial thing — that these companies aren't doing this out of a lack of profitability or failure of their business model, but because the modern internet has become somewhere between a social experiment and a human mining operation.”