@aral @Gusted @dachary @humanetech @jwildeboer Yes,...

@aral @Gusted @dachary @humanetech
@jwildeboer

Yes, it's very disturbing if they are accurately quoted.

VC money never seems to go well for community projects 😢

Either a project is openly all about money, in which case it shouldn't be taking unpaid contributions because that's exploitation.

Or a project *is* about volunteering and community spirit, in which case it shouldn't be taking VC money because that will destroy the community.

Like 27 Oct 2022 at 9:42 | Wall-to-wall | Open on mstdn.social

2 comments

bhaugen

@feditips @aral @Gusted @dachary @humanetech @jwildeboer

Effects of VC money on one project I worked on:
The VC explained that their investors expected a return on their investment that was larger than what they could get from safer investments,. They got the project to spend money on facilities and sales and marketing people. Then they decided they would not get enuf profits so they cut them off, but because of the VC-led ongoing expenses, the project was unsustainable and folded.

27 Oct 2022 at 11:53 | Open on social.coop

Fedi.Tips 🎄

@aral @Gusted @dachary @humanetech @jwildeboer

p.s. Just to be clear, I'm not objecting to projects having grants or sponsors or donations! The FOSS world definitely needs more of these.

But VCs aren't donations, they're owners who demand profits even if it fundamentally changes the nature of the thing they own. The motivations and the strings attached to VC deals are the problem.

27 Oct 2022 at 14:25 | Open on mstdn.social