Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year?
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Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).
But something is fishy.
Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/
Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?
Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.
@_elena
Thanks for highlighting this.
Bsky smells of narrative capture to me, much like Substack, (who are now teaming up with prediction markets) -
@_elena
Thanks for highlighting this.
Bsky smells of narrative capture to me, much like Substack, (who are now teaming up with prediction markets)@markmetz
you nailed it (at least, that's my interpretation, too) -
@_elena Bain Capital Crypto is involved in the European project supposed to create an alternative to GitHub. Super red flag, I think.
https://goodtech.info/tangled-levee-fonds-alternative-open-source-github/@patpro I didn't know this and... yikes. Thanks for sharing this
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@_elena And this is how I find out that he's on their board.
Even if Bsky themselves and some of their staff actions didn't raise alarms from the get go for me. The fact that they are located in the US under current administration and the lack of autonomy does.
I'm happy I finally took the plunge and made them my back up social media and Mastodon my primary. I like some of the utility over there, but it's already doing the spiral I watched Twitter doing before leaving there.
@707Kat this is the way! (Mastodon as primary and Bluesky as backup)
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Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).
But something is fishy.
Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/
Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?
Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.
@_elena all the startups I've worked for have blasted out press releases the moment their funding rounds closed. Part of being a startup means constantly vying for attention. This explanation does not hold up.
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Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ @_elena@mastodon.social
Just out of interest - any of the bluesky-bridged-to-fediverse accounts posting about this? -
@patpro I didn't know this and... yikes. Thanks for sharing this
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Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ @_elena Next Space Karen buys Bluesky for $44 billion
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Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ @_elena if trump supports it, then it must be really bad
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Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).
But something is fishy.
Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/
Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?
Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.
@_elena Maybe the deal is in cryptocurrency, not actual dollars?
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Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ -
@_elena And this is how I find out that he's on their board.
Even if Bsky themselves and some of their staff actions didn't raise alarms from the get go for me. The fact that they are located in the US under current administration and the lack of autonomy does.
I'm happy I finally took the plunge and made them my back up social media and Mastodon my primary. I like some of the utility over there, but it's already doing the spiral I watched Twitter doing before leaving there.
@707Kat @_elena@mastodon.social They're really speedrunning the cycle!
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@707Kat @_elena@mastodon.social They're really speedrunning the cycle!
@erikcats "By the magic of AI
" -
@erikcats "By the magic of AI
"@707Kat
I hate it but I'm laughing -
Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).
But something is fishy.
Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/
Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?
Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.
@_elena Yeah, this excuse is baloney.
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@707Kat
I hate it but I'm laughing@erikcats Haha that was my intend.
You'll probably laugh watching this as well.
TLDW; Video goes over how OpenAI has had to hire a projectlead who is now raising alarm about all of their unfinished projects going nowhere other than wasting money and resources.
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Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ @_elena Mastodon data are open too….
But yeah blue sky has crypto investors it will be monetised for sure -
Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.
And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."
https://bsky.social/about/blog/03-19-2026-series-b
How I read it: data harvesting at its finest
️ @_elena
You'd scared me.
I really thought Mastodon did something sinister at the first glance XD -
@erikcats Haha that was my intend.
You'll probably laugh watching this as well.
TLDW; Video goes over how OpenAI has had to hire a projectlead who is now raising alarm about all of their unfinished projects going nowhere other than wasting money and resources.
@707Kat they sell vibe more than anything, so all projects trumps product (see Ee-lahn Mushk for reference).
But you're wrong, the video had me facepalming
good video!
