Everybody trusts Venture Capitalists, right?

[lazarou@mastodon.social]

Everybody trusts Venture Capitalists, right? lol

https://www.theverge.com/tech/891562/bluesky-new-ceo

#Bluesky #TechBros #VentureCapitalists #SocialMedia #LateStageCapitalism #Enshittification

[mastodonmigration@mastodon.online]

@Lazarou

"If anything, we’re doubling down…. Open platforms only thrive when third-party builders can trust them. We will continue to work on earning that trust and moving towards a fully decentralized system,” writes Schnieder."

[maryaustinbooks@mstdn.social]

@Lazarou Lordy. I get information over there to repost but don't have a serious presence for exactly this reason. Especially as anti-corruption as my book is, no way is it welcome on any platform but the Fedi.

[lazarou@mastodon.social]

@mastodonmigration "Trust" he says, while being a Venture Capitalist....

[reflex@retrogaming.social]

@Lazarou @mastodonmigration Honestly it implies to me that the hope of a big IPO payday is viewed as unlikely at this point.

[pre@boing.world]

@Lazarou @mastodonmigration that's how they make money, they build trust and then abuse it.

[mastodonmigration@mastodon.online]

@pre @Lazarou

They haven't made any money yet...

[pre@boing.world]

@mastodonmigration @Lazarou ha, yes, well.

Venture capitalists have made lots of money from abused trust, but that's is phase two.

Blue sky might just be entering phase two now. Or they may have a few years more trust to build first.