"But in case you want to be more precise, let’s examine how enshittification works. It’s a three-stage process: first, platforms are good to their users. Then they abuse their users to make things better for their business customers. Finally, they abuse those business customers to claw back all the value for themselves. Then, there is a fourth stage: they die."

https://www.ft.com/content/6fb1602d-a08b-4a8c-bac0-047b7d64aba5