p.s. We know Mastodon has already had multiple offers from VC because Eugen told us about them:
"Eugen Rochko, the founder of Mastodon told the FT that he had received offers from more than five US-based investors to invest ‘hundreds of thousands of dollars’ in backing the product."
I'm really glad Eugen turned them down, it's a really good sign, but it is dangerous to build a network that relies on one person regularly turning down money.