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Technology
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A big part of it is that people are so unbelievably cynical now. They'll rush over one another to point out and then circlejerk over the most negative aspects of every new development, while ignoring every positive.
The old internet would have flipped out over ChatGPT, much less Midjourney, and generated thousands of hilarious stories and images and websites that made ridiculous random comic books or fake government websites for absurd departments or whatever. They would have been delighted with it...and as an afterthought it may have occurred to them that there might be downsides.
Today, people get furious about the fact that AI exists, that it was trained on existing material, that it might affect people's lives. Long articles are written on the terrible effects AI is going to have on politics or media. Post an AI-generated image in anything other than an AI-art forum, and you'll be absolutely lambasted. Suggest that there may just be a few updates and watch the downvotes and angry replies flood in.
Part of that is just experience. We've lived though a few 'revolutions' for which the net effect was...arguably not so great. Part of it is that the age of the average Internet-savvy user is like 35-40 now, not 22, so they're bringing a level of fear and skepticism that wasn't there before.
And partly there just seems to be a sort of social malaise and negativity that wasn't there before. People in 2005 were happy and excited for the future. Now everybody just seems fearful, angry, and burned out.
I think ever since I came here, it was with the same message: the time for postmodern cynicism where nothing ever matters is over, it's time to embrace a new sincerity, a return to a more human Internet we imagined from yester-year, while still acknowledging the the advancement and progress that happened during the Web 2.0 era.
And I think the Fediverse, decentralized social media to something more akin to the various independent forums and blogs that still has all the advantages of centralization, is the start of something beautiful.