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this post was submitted on 06 Jul 2024
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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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Meanwhile my credit union pays me interest on my checking account.
Switched back to a CU a year ago, saving several hundred dollars a year now, at least.
Same with Schwab bank along with refunding all atm fees
Same. It's a trivial amount, but it's a nice gesture.
How do I join this credit union?
I do not.
Chase have been in the UK until really recently. Still giving 1% cashback on all transactions though.
Chase is trash
They seem about the same as most other banks over here. Their app is maybe slightly behind the challenger banks like Monzo and Starling, but well ahead of some of the big banks (looking at you HBOS and Santander). So while they keep giving me money I don't really care. If I were banking for mortality I'd have to use CO-OP or maybe Nationwide anyway because I can't imagine any of the big banks don't have blood on their hands.
Chase's savings account has one of the best interest rates on the market in the UK at the moment. Plus the 1% cashback on all transactions and until it finishes next month 1% interest on my current account.
If (or probably when) they stop being so competitive I'll drop them like a stone though.