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We're coming to the point where decentralized social media contains the only structures we're going to have left that aren't completely controlled by hard-right interests

The one centralized holdout is Bluesky, which means either that's going to need to be decentralized, or it's going to be the next right-wing target over this year probably

@cwebber Bluesky is owned by the same techbro who started Twit and sold it to The Bad Musk. What do you think is going to happen to it?

@The_Icarian Afaik Dorsey no longer has any governance role in Bluesky, though he did arrange the initial funding

@cwebber @The_Icarian

The 'story' is that Dorsey is gone, and indeed they have said that he holds no personal equity interest. There are other ways to retain obligations, like convertable debt, warrants or ownership through shells, that may be a way of disguising a continuing interest. It would be good to approach everything with such corporate entities with a healthy skepticism.

@mastodonmigration
@cwebber @The_Icarian

My take after reading Lemmer-Webber is that there's no real path to technically decentralizing BlueSky, and a better alternative is figuring out how to decentralize ownership.

Figure out the current cap table, figure out how to buy the current investors out, turn to a membership co-op model with community governance, and use regulation crowdfunding (selling bonds or non-voting shares) when a capital raise is needed. Can do up to $5m a year.

Ryan Singel

@mastodonmigration
@cwebber @The_Icarian

I think foundations should be pouring money into the Fediverse, Spritely and, if they can figure out how to get BlueSky out of VC control, into that too

There's a little window to hijack a rocketship