So, to summarize what we've learned on the second day of trying to figure out:
Who actually owns #Bluesky?
The company represents that Jay Graber and the employees own Bluesky. This is misleading. In actuality, Bluesky has a host of Tech VC shareholders (accessipos.com/bluesky-stock-i…) and is about to get more in a stunning funding round led by Bain Capital valuing the company at $700M (businessinsider.com/x-competit…).
So who are the current owners of Bluesky? Read on...
accessipos.com/bluesky-stock-i…
X competitor Bluesky's valuation jumps to around $700 million
Bluesky is raising new funding led by Bain Capital Ventures that would value the social media company at around $700 million, according to sources.Ben Bergman (Business Insider)
This entry was edited (1 month ago)
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in reply to Mastodon Migration • • •Back in 2023: Bob Young (Red Hat), Amjad Masad (Replit), Heather Meeker, Jeremy Johnson, Outset Capital, Mana Industries, Automattic, Protocol Labs, Katelyn Donnelly, Ali Evans, Stav Erez, Brad Fitzpatrick, Atlas Benjelloun, and Abdul Ly.
Earlier this year: Blockchain Capital, Alumni Ventures, True Ventures, SevenX, Amir Shevat (Darkmode Ventures), and Joe Beda (Kubernetes).
The list is a who's who in tech with ties to all the principle edgelords.
That's who owns Bluesky.
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in reply to Mastodon Migration • • •⚯ Michel de Cryptadamus ⚯
in reply to Mastodon Migration • • •usually ~10% is left for employees.
- C suite each get 1%
- MD or equivalent each get 0.25-0.5%
- average engineer maybe 0.1%
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in reply to ⚯ Michel de Cryptadamus ⚯ • • •@cryptadamist
But we just don't know.
One very troubling thing is their representation that the company is owned by Jay Graber and the employees.
It is not clear how many of the progressive voices flocking there, and establishing the basis for the current astronomical valuation, would have done so had they known who actually owned the company.
⚯ Michel de Cryptadamus ⚯
in reply to Mastodon Migration • • •Mastodon Migration
in reply to ⚯ Michel de Cryptadamus ⚯ • • •@cryptadamist
It should be very problematic.
It is hard to understand how progressives keep falling for this same scam. Guess people just want to believe what they hear.
Marti Abernathy
in reply to Mastodon Migration • • •Kuba Suder • @mackuba.eu on 🦋
in reply to Mastodon Migration • • •Mastodon Migration reshared this.
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in reply to Kuba Suder • @mackuba.eu on 🦋 • • •@mackuba
Right.
D2
in reply to Kuba Suder • @mackuba.eu on 🦋 • • •Kuba Suder • @mackuba.eu on 🦋
in reply to D2 • • •@cascheranno > And we know Bain and the other names claim some vast ownership majority, vs. a likely tiny fraction for employees
Wait wait hold on, we know that? Where did you read that? From what the team has been saying, my assumption is that the majority belongs to Jay & co., I just don't know how much more than 50%.
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in reply to Kuba Suder • @mackuba.eu on 🦋 • • •@mackuba @cascheranno
"From what the team has been saying..." is doing a lot of work here.
The point is the what they have been saying is deliberately obtuse, so we really have no idea, and have every reason to be suspect. If they wanted to be transparent and trustworthy all they need to do is be transparent and forthcoming.
Kuba Suder • @mackuba.eu on 🦋
in reply to Mastodon Migration • • •e.g. one example thread from one of the lead guys from the team:
(to be clear, guy with the handle "bsky.ceo" is not from the team, surprisingly 😛)
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in reply to Kuba Suder • @mackuba.eu on 🦋 • • •And you find that reassuring?
Seems like more smokescreen.
Again if that is all true, why not tell people who the owners are and what percentage ownership everyone has?
It would be much simpler than all this "trust us" stuff.
Kuba Suder • @mackuba.eu on 🦋
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in reply to Kuba Suder • @mackuba.eu on 🦋 • • •@mackuba @cascheranno
Everyone has seen that statement and it is simply not believable. Or, at the very least, it is a carefully worded statement that leads to deliberate misconceptions.
Rather than issue crytic statements like this, they could just publish the ownership interests of all shareholders, and identify any convertable loans and/or warrants.
They could do that instead of being so cute.
D2
in reply to Mastodon Migration • • •@mackuba I read that excerpt as ‘and then a transaction was made’.
It’s not full ‘prior to our deal with the devil, we owned our souls’, but it sure is ‘don’t look behind the curtain, it’s all sunshine and puppy dogs, despite our investors’ contradicting reputation’.
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in reply to D2 • • •@cascheranno @mackuba
Agreed. It's all nonsense word salad deliberately intended to obscure the issue.
Who Actually Owns Bluesky?
It's a simple question. Why are we supposed to parse cryptic BS from "members of the Bluesky team."
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Unknown parent • • •bituur esztreym
in reply to Mastodon Migration • • •still too many unknown unknowns (Rumsfeld scale)