Most of this story wasn't news to me, but I want more on this: https://t.co/8j6l7qJzmP https://t.co/LyLwr2BEuO

Notice the progression here: the Wirecutter was genuinely useful content that took a lot of time and expertise to produce; BuzzFeed, Gawker, etc. was rather less useful, but still content that had marginal costs to produce; Honey, meanwhile, was zero marginal cost skimming. In short, the affiliate game grew increasingly commoditized over time.