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"One reason people think Bluesky will be different is that the app has a decentralized ownership model, which means it’s controlled by a four-person board rather than any single person or company. Bluesky is a public benefit corporation, a for-profit company that aims to have a positive impact on society rather than focusing on maximizing shareholder value. There are currently no ads, which means Taco Bell and Tide aren’t trying to get your attention with meme-speak.

The platform is still small, with roughly 25 million users, a fraction of the population of its peers, and it runs on an open-source protocol, which means that anyone can build their own subcommunities on top of it with their own moderators and guidelines. Already there are a few attempts, including Blacksky, a community dedicated to Black users that hopes to recreate the best of Black Twitter. (So far, it’s still a nascent aggregation of scattered photos and messages.)

Yet all other indicators point to a service organized suspiciously like its predecessor: The company hopes to start generating revenue with subscriptions, and has raised close to $23 million in venture funding from private investors. Even Dorsey has lost his early faith: In May, he announced that he had stepped away from the Bluesky board, and later gave an interview in which he lamented that the team was “repeating all the mistakes we made as a company,” referring to the early years of Twitter. Bluesky, he said, was turning into just “another app.”"

https://www.nytimes.com/2024/12/14/magazine/bluesky-social-media.html

#SocialMedia #SocialNetworks #Twitter #Musk #Bluesky #VCs #SiliconValley

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