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Mike Beasley

@bhrarchinerd Bluesky isn't being run by Twitter people. The only relationship Jay Graber had to Twitter was that Twitter gave her a bunch of money to establish bsky and she demanded to be independent of Twitter Inc.

The investment is actually good news. Graber and her team still own and fully control the company, and the investors got very little power from their investment. They have one board seat that does not give them control of anything. The investors are not "major shareholders.”

18 Nov 2024 at 22:26 | Wall-to-wall | Open on mas.to
4 comments
Mastodon Migration
Marc Whitaker

@MikeBeas @bhrarchinerd
Investors expect a return on their investment. What has Bluesky to sell? The same thing Meta, X, and Google have to sell: their users.

20 Nov 2024 at 1:10 | Open on union.place
Mike Beasley

@marc_w @bhrarchinerd You’re wrong on a few things here.

Investors typically expect a return, but Bluesky is a PBC, not an LLC or some other type of corporation. They do not owe their shareholders or investors any profit. They have no fiduciary duty to them.

Bluesky doesn’t “have” users to sell. They don’t own any data or user identities. Everything is portable and owned by users, unlike on Mastodon where your server admin owns your identity and data.

Bluesky has nothing to sell by design.

20 Nov 2024 at 1:25 | Open on mas.to
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