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Mastodon’s founder cedes control, refuses to become next Musk or Zuckerberg
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The main difference is that the project will be owned by the non-profit foundation. This still leaves mastodon.social in the for profit Mastodon gGmbH but Mastodon itself is safe.
Also worth noting that this was done in Europe (not the US), so corrupting the nonprofit should be harder.
Ah, of course the guy motivated by money ensures he can keep getting it.
Let's hope he will invest it in moderation worth a damn.
Sadly it sounds like he'll still be in charge of the project so he can keep ignoring user issues and pull requests that are actually useful and instead keep making changes that users don't like, want or need.