This should serve as a warning to people who are spending time building their presence on Bluesky. The company has raised $15 million in venture capital to grow to 13 million users. As Mastodon's Egen Rochko says, "VCs don't want a sustainable business, they want a big exit. Every VC-backed business is on a timer to deliver or die." This means Bluesky is now on the clock to deliver $15 million in revenue, plus $8M from a seed round last year, plus significant profits for the VCs, in a limited time. How will they collect your money? There's a vague handwave in this announcement to blockchain. See more. Here's the full announcement from Bluesky.
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