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Molly White

“our lead shares our philosophy that technology should serve the user, not the reverse

this is why they focus on blockchains, a technology basically always used at the expense of its users”

Bluesky Announces Series A to Grow Network of 13M+ Users October 24, 2024 by The Bluesky Team Bluesky now exceeds 13 million users, the AT Protocol developer ecosystem continues to grow, and we’ve shipped highly requested features like direct messages and video. We’re excited to announce that we’ve raised a $15 million Series A financing led by Blockchain Capital with participation from Alumni Ventures, True Ventures, SevenX, Amir Shevat of Darkmode, co-creator of Kubernetes Joe Beda, and others. Our lead, Blockchain Capital, shares our philosophy that technology should serve the user, not the reverse — the technology being used should never come at the expense of the user experience. Additionally, this fund has a uniquely deep understanding of our decentralized foundation and has extensive experience building developer ecosystems, so it’s a natural partnership as we continue to invest in the ATmosphere (the AT Protocol developer ecosystem). This does not change the fact that the Bluesky app and the AT Protocol do not use blockchains or cryptocurrency, and we will not hyperfinancialize the social experience (through tokens, crypto trading, NFTs, etc.). To ensure we and our users benefit fully from this expertise, partner Kinjal Shah will join our board. Kinjal shares our vision for a social media ecosystem that empowers the people who use it, and we are glad to have her supp
#Bluesky
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Molly White

i do think the degree to which bluesky is stressing that they do not use blockchains really underscores how toxic even a faint whiff of blockchain has become to any normal platform

#Bluesky
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Stefan Bohacek

@molly0xfff I've said before that for the fediverse to "win", we just have to wait until the "competition" gets enshittified.

I'm relieved to see that it might not actually take that long!

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Laurens Hof

@stefan @molly0xfff

if time-to-enshittification-rate (whatever that term at this point even means) is correlated to funding rate, Bluesky's much lower funding rate compared to Twitter in the same stage of the platform's life, it would suggest that it would take quite a while for bluesky to get enshittified. 15milion usd is a pretty low amount of money, and Im guessing they couldve raised a lot more if they wanted to, considering the MAU graphs they can show

(source: bsky.app/profile/ripperoni.com)

Bsky, twitter, and Farcaster funding roundschart. It Shows them start off at similar amounts, but to today Bluesky sits at $36 million, while Twitter at the time would already have hit total funding of over $200 million, and Farcaster sitting at $180 million
Anil Dash

@laurenshof @stefan @molly0xfff yeah, fwiw I think the dollar amount here is probably the least concerning thing. they're easily on track to generate more than enough value to justify that. it's the everything else about vc that is more of an issue.

Oct 25, 2024, 03:17 AM·Public
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