Regular reminder that Bluesky is a VC-funded company which inevitably is headed for the same fate shared by all VC-funded companies. It must maintain hypergrowth until it either:
- folds
- sells
- IPOs
Maybe tuning into another re-run of the social media VC show is appealing to some, but it certainly isn’t for me.
Headline: “Wow, Bluesky managed to get $8 million in funding”
What you should be reading:
“Bluesky took on an additional $8 million in debt, which they will need to be pay back with interest one way or another”
How are they going to be doing that, you wonder? Well reader, certainly not just by selling domain names at a slight markup.
@yosh Notably also applies to other 'decentralized' things that get 'funding' in large sums like this (as opposed to distributed community funding). Quite a few other projects come to mind...
