Bluesky is a private for-profit company that has taken $37M in venture capital.

https://www.piratewires.com/p/interview-with-jack-dorsey-mik...

> That was the second moment I thought, uh, nope. This is literally repeating all the mistakes we made as a company. This is not a protocol that’s truly decentralized. It’s another app. It’s another app that’s just kind of following in Twitter’s footsteps, but for a different part of the population.

> Everything we wanted around decentralization, everything we wanted in terms of an open source protocol, suddenly became a company with VCs and a board. That’s not what I wanted, that’s not what I intended to help create.