News Bites: March 03, 2024.
Torba pokes a hornet's nest. You'll soon own nothing and not be happy. And all the experts agree...sort of.
Gab CEO Andrew Torba created a bit of a storm on his social media site when he announced, with only 48 hours notice, that users would have to upgrade to paid status if they want to continue posting media files (photos, memes, videos) on the site. This didn't go over very well with users who have been on the site for years and now feel like Torba is shaking them down for cash. Apparently, standard (free) users who have made financial donations to Gab in the past still have to upgrade or else they'll be limited to text and link posts. It looks like quite a few members have already closed their accounts and others are threatening to do the same. Anger over the sudden decision has led some Gab members to dig in to Torba's past, and it's being said that Gab is a "honey pot" for law enforcement agencies and that Torba may be misrepresenting himself and the financial status of his company. Whether or not the accusations are true, I cannot say. But a scan of the posts on Gab shows a lot of people are asking questions and slinging criticism at the social media site they seemed to trust until now. We'll have to wait and see what happens over the next couple of weeks: will there be a mass exodus, will Torba back down on his new policy, or will this eventually blow over with no serious harm done? All I can say for now is that my account on Gab used to be the busiest of all the social media sites I'm on, and after the new policy went into effect, activity has dropped like a rock.
GoBankingRates.com has a new article about the seven things the middle class won't be able to afford in five years. To save you time, here's the list: Family trips, especially overseas - New cars - Private school tuition - Homeownership & real estate - Healthcare costs - Leisure & travel in retirement - Safe investments for retirement.
Luckily, food didn't make the list, but if the predictions come true we'll going to be getting by with a lot less luxuries and comforts than we have now. In fact, the middle class of the near future may be a lot like living in poverty today. And mobility may be an issue too: the European Union has proposed a law that would make it illegal to repair cars that are over 15 years old, leaving only three options: buy a new car (which you won't be able to afford), carpool with someone who CAN afford a new car, or use public transit systems. But don't worry. I'm sure they're already planning 15-minute cities (urban prisons) near you, so you won't have anywhere to go anyway.
And finally, a humorous meme that's unfortunately the reality of the world today:
