So, if it isn't working for a company, then it's time to pursue another business model.
For most businesses that isn't actually an option. You can only try something else if you have the necessary capital to fund a pivot, and few businesses do. The majority of sites you use won't try something else; they'll close down instead.
That's fine, it happens to a large percentage of businesses, and they'll be replaced by new businesses trying new ideas. I'm pointing out that "Try a new business model" is rarely an option. "fail fast" is a startup maxim for a reason. If you don't discover what isn't working quickly you'll just plain fail.
Yea, I thought of this (I'm sure others have, too) a few months ago and dismissed it after a few back of the envelope calculations made it clear the business model just wasn't there.
It may also be rational if they aren't sure what new business model would work and figure it would be too expensive to find out themselves. Or they recognize other business models can work better, but they aren't in a strong position to capitalize on them so they take advantage of what they can while they still have some position of strength.
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