Bluesky raises $100M Series B as new CEO takes charge
thenextweb.com
Bluesky disclosed a $100M Series B led by Bain Capital Crypto, a round that closed last April, and a new CEO takes charge.
  • baggachipz@sh.itjust.worksEnglish
    2 months

    $100 million Series B led by Bain Capital Crypto

    The article paints some glowing picture of success and excellence from this move, as if VC doesn’t expect some huge return on investment from a service which hasn’t made a dime. “They’ll make money on premium subscriptions and business services”…. Right, ok.

    “We’re rolling out tasteful, relevant, safe ads” in 5…4…3…

    • [object Object]@lemmy.caEnglish
      2 months

      I could see running a service to host blue sky services for governments and companies being a good compromise.

      You don’t need $100M to do that.

      • borth@sh.itjust.worksEnglish
        2 months

        But then how will the CEO get that $25-50M bonus? Won’t someone think of the poor CEOs…

    • expr@piefed.socialEnglish
      2 months

      My brother works for a company acquired by Bain. They are every bit the vulture capitalists bleeding companies into lifeless husks.

    • dan69@lemmy.worldEnglish
      2 months

      Upvote not bc of the response but the fact that the meme fits strongly

    • Lemmayng@lemmy.worldEnglish
      2 months

      It’s already on BlueSky. As soon as that techsis CEO bitch let fascists onto the platform, and even before that with throwing trans people under the bus, PooSky was already enshittified.

  • Zedstrian@sopuli.xyzEnglish
    2 months

    People should be switching to Mastodon with how clear the coming enshittification is. User data is valuable, and the way ATProto siloes data from multiple platforms using the protocol encourages them to entrench the dominance of the official Bluesky PDS to maximize data collection. With $100 million in venture capital, Bluesky is in no way incentivized to meaningfully decentralize its platform.

    Before subscriptions or advertising turn it into just another Twitter clone, users should be migrating to Mastodon.

    • Leon@pawb.socialEnglish
      2 months

      Users should’ve gone to mastodon to begin with. Why the fuck would they leave a monolithic corpo platform for another monolithic corpo platform? It’s stupid.

      • mrmaplebar@fedia.io
        2 months

        It’s certainly frustrating watching people make the same mistake over and over.

      • kurcatovium@piefed.socialEnglish
        2 months

        Because you’re not spoon fed by algorithm on mastodon. People these days apparently want to see “cool shit” without actually doing anything on their own.

        • eli@lemmy.worldEnglish
          2 months

          I think one of the best things I’ve done recently was setup a freshrss instance and grab all of the websites I’m interested in that have RSS feeds.

          Now I’m pretty much only using Lemmy to argue with people and go to my rss instance to read the news.

    • k0e3@lemmy.caEnglish
      2 months

      I wish more people would come to Mastodon. There are hardly any accounts worth following for me right now.

    • themachinestops@lemmy.dbzer0.comEnglish
      2 months

      Honestly, people are still on twitter, majority aren’t moving to mastodon or bluesky. The most successful is Lemmy in my opinion.

      • Aproposnix@scribe.disroot.orgEnglish
        2 months

        I’ll take the principled approach and not support fascist enabling corporations from the United States. The way I look at it is if you can’t say no to supporting these platforms, then you’re complicit as well. This is most relevant with X .

  • missingno@fedia.io
    2 months

    BlueSky pays lip service to federation, but they’ve set it up so that they’ve got effective control of 99% of the network. It’s a sham to convince people they’re different from every other corporate-owned social media platform, but it really isn’t.

    • ilinamorato@lemmy.worldEnglish
      2 months

      I mean, generally I agree, but what gives me pause here is that Graber is basically moving into a focus on federation full-time. A leadership change like this would be a perfect moment to pivot away from atproto and into a more walled garden, but Graber isn’t even leaving the company.

      This could just be theatrics, but it’s at least interesting that they aren’t taking this opportunity to close it all off when they absolutely could.

      • missingno@fedia.io
        2 months

        It is theatrics. They know they’ve already got literally the entire userbase on their server, so none of this actually matters.

        When Bluesky inevitably enshittifies, they take the whole network down with them.

  • Devolution@lemmy.worldEnglish
    2 months

    Blue Sky…officially becoming the Liberal X. Right down to the enshittification.

    All Bluesky needs is militant tankies and the shift is complete. 🙃

      • AceFuzzLord@lemmy.zipEnglish
        2 months

        I have never run into any, but I’d have to assume there are just based off of the fact that anyone can host an instance.

      • Devolution@lemmy.worldEnglish
        2 months

        I wouldn’t know…never been there. I was just making a parallel to X’s child fucking Nazi problem. 😕

  • k0e3@lemmy.caEnglish
    2 months

    Is bluesky federated? Is it possible to follow bluesky accounts from mastodon?