Yesterday it became public that #Bluesky has secretly got an additional 100 million US$ investment from venture capital investors.
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Yesterday it became public that #Bluesky has secretly got an additional 100 million US$ investment from venture capital investors. They kept it hidden for almost a year.
Bluesky announces $100M Series B after CEO transition | TechCrunch
The additional funds have been used to scale Bluesky's team, while the company continues to develop Bluesky's app and the underlying ATProto that powers it.
TechCrunch (techcrunch.com)
VC money generally requires a serious return on investment, so they must have plans to extract it from users, and, so it seems, from advertisers.
If it wasn't clear yet, the path to #enshittification lies ahead.
It is also clear from the @fediversereport that the AT protocol itself doesn't guarantee the avoidance of centralisation, or these kinds of extractivist business models.
Can we please help our friends who are at BS wake up from the inminent dangers? And while at it, help them join the Fedi.
Have a good Friday
#NoVC #rtm @DigitalCoup -
R relay@relay.infosec.exchange shared this topic
