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From https://www.investopedia.com/terms/b/blueskylaws.asp History of Blue Sky Laws The term "blue sky law" is said to have originated in the early 1900s, gaining widespread use when a Kansas Supreme Court justice declared his desire to protect investors from speculative ventures that had "no more basis than so many feet of 'blue sky."" In the years leading up to the 1929 stock market crash, such speculative ventures were rife. Many companies issued stock, promoted real estate, and other investment deals while making lofty, unsubstantiated promises of greater profits to come. There was no Securities and Exchange Commission (SEC), and little regulatory oversight of the investment and financial industry. Securities were sold without corroborating material evidence to support these claims. In some cases, details were fraudulently hidden to attract more investors. Such activities contributed to the hyper-speculative environment of the 1920s that led to inflation of the stock market before its inevitable collapse.

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From https://www.investopedia.com/terms/b/blueskylaws.asp History of Blue Sky Laws The term "blue sky law" is said to have originated in the early 1900s, gaining widespread use when a Kansas Supreme Court justice declared his desire to protect investors from speculative ventures that had "no more basis than so many feet of 'blue sky."" In the years leading up to the 1929 stock market crash, such speculative ventures were rife. Many companies issued stock, promoted real estate, and other investment deals while making lofty, unsubstantiated promises of greater profits to come. There was no Securities and Exchange Commission (SEC), and little regulatory oversight of the investment and financial industry. Securities were sold without corroborating material evidence to support these claims. In some cases, details were fraudulently hidden to attract more investors. Such activities contributed to the hyper-speculative environment of the 1920s that led to inflation of the stock market before its inevitable collapse.
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Erik Moeller (eloquence@social.coop)'s status on Friday, 27-Dec-2024 18:06:22 JST Erik Moeller
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Incidentally, I found it somewhat amusing to discover that before executives started talking about "blue sky thinking", the term "blue sky" in a business context was primarily associated with fraudulent business ventures, which led to "blue sky laws" to protect investors.
I don't think Bluesky is a fraudulent venture, but I also don't think it is anymore imaginative than the modern use of the term in C-suites. It is simply business as usual -- blue sky, incorporated.

In conversation about 6 months ago from social.coop permalink