Open Street Map is legitimate. In bicycling communities, Strava is the gold standard app for tracking rides, and it uses Open Street Maps on the backend. It’s always super accurate for me, even for fairly obscure bike trails off the beaten path.

The past 15 years of growth in anything technology adjacent has been fueled by one thing: Extremely cheap debt. Interest rates have at been rock bottom since the 2008 crisis, and they’ve only started to tick up recently. That means the ability to fund infinite growth for basically nothing, so tech companies have relied heavily on debt financing.

Now though, that’s no longer viable. Silicon Valley Bank was very heavily involved with all these tech companies, and it went insolvent in March largely because of rising interest rates. They held a lot of long term bonds at low interest rates. In normal conditions, rising interest rates mean lower bond prices and unrealized losses, but not a major problem because they can just hold them to maturity and never realize the loss. Bank runs forced SVB to sell the bonds for huge losses though, turning unrealized losses into realized losses, and a non-issue into a major problem.

Now that cheap debt is gone, these tech companies are desperately scrambling to attain profitability. It hasn’t been discussed much, but this is a big reason for the changes at both Twitter and Reddit.

No chance.

Creating a Reddit alternative is easy because you only need to host text, and text doesn’t take up a lot of space. The entirety of Wikipedia’s text, for instance, can be compressed into something like 22 GB, which is small enough that it can be stored on low-end consumer hardware from 20 years ago. The more difficult problem is getting a user base: people don’t want to switch unless they have a compelling reason to, and even with Reddit shitting the bed recently, Reddit alternatives are still pretty empty.

With video, you have both problems. Like Reddit alternatives, getting people to switch and produce content for the platform is difficult as hell. However, even if you somehow manage to succeed at that, video takes up an enormous amount of space. It simply isn’t feasible to host that much content without millions/billions of dollars of funding available if the platform takes off, and no company wants to invest that sort of money on a low probability gamble competing against one of the largest companies in the history of the world.

I was gifted Reddit gold a few times over the years for random comments I made, which gave access to the lounge subreddit. It’s mostly nothing but dumb memes roleplaying as gilded age oil tycoons and the like. Definitely not worth paying anything for access to it.