There are two huge red flags with Bluesky: 1) They recently raised a venture round – modern venture capitalists invest for one of two reasons: either they want a big return ($15M > $150M considered acceptable, but $1.5B+ is the goal), or they want a place where they can influence/control larger narratives for their personal, political, or financial gain (e.g. Marc Andreessen and a16z investing in Clubhouse and then being featured as "top recommended accounts"). 2) The VCs in Bluesky have ties to far-right authoritarians and cryptocurrency influencers – two of the key investors, Bart and Brad Stephens of Blockchain Capital, co-founded their firm with Brock Pierce, who worked directly with Steve Bannon While Bluesky is built on a better concept – decentralized social media and open protocols – there is little reason to believe them when they say they are focused on how "technology should serve the user, not the reverse."
