this post was submitted on 20 Nov 2024
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https://bsky.social/about/blog/10-24-2024-series-a
In other words, the enshittification is coming. Because Bluesky is backed by crypto-bro venture capital.
A lot of hay is being made about Bluesky but despite literal oligarchs taking over the country, I guess rich people dictating how our systems work is what people want because apparently Mastodon is too much to ask of individuals.
We can talk about Bluesky and how great their tech is all we want, but unless we address the elephant in the room, venture capital that wants a return on their investment, we're just spiraling the same stupid fucking drain we've been down with every social media preceding it.
Maybe shitty corporate search engines are failing me, but has there been a stated valuation for Bluesky? Googling 'Bluesky valuation" or any combination thereof is a problem since that's a business term so lol, lmao, search engine worthless.
$8m seed + $15m A series may be a shockingly small amount of equity, or it could be the whole damn company but I'm just not seeing it actually posted anywhere.