Comment Re:enshitification (Score 2) 99
Not quite. It's more that the airlines' business model is, oddly, no longer centered on actually providing travel: the loyalty partnerships they have with credit card companies are now more profitable than the airline operations.
A similar trend happened with the big 3 just before the '08 banking crisis. They made more money financing vehicles rather than building them. Same problem GE had, they started chasing profits by becoming a bank instead of a manufacturing company. It's like the old adage of "all software feature creeps until it can read email, or gets absorbed by software that does," for big business, it's "all businesses expand until they become a bank or get bought by company that already did."
A similar trend happened with the big 3 just before the '08 banking crisis. They made more money financing vehicles rather than building them. Same problem GE had, they started chasing profits by becoming a bank instead of a manufacturing company. It's like the old adage of "all software feature creeps until it can read email, or gets absorbed by software that does," for big business, it's "all businesses expand until they become a bank or get bought by company that already did."