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1/IMPORTANT thread about Bluesky funding and origins. Many folks know that it was seeded by Jack Dorsey around a libertarian vision of a magical network that wouldn’t need moderation because it would be decentralized and baked into a protocol (somehow).

The people who aided Dorsey in pursuing this vision were other libertarian/post-rationalists connected with effective altruism and other online anarchist movements.

in reply to Dave Troy :toad:

2/One network called TPOT (‘that part of Twitter’) was instrumental. It carried over into Bluesky’s founding DNA.

Someone made this visualization in 2023, showing the TPOT/EA network quite clearly. EA as you know is part of TESCREAL and the belief systems that have driven Sam Bankman Fried and Elon Musk. SBF also put money into Musk’s Twitter buy.
knowyourmeme.com/memes/subcult…

in reply to Dave Troy :toad:

3/Now that Dorsey has bailed as a board member and principal funder, Bluesky’s DNA is basically TPOT people. Who is going to win in that scenario? I don’t know, but I’m not putting money on the users. The most recent funding came from Blockchain Capital LLC...
theverge.com/2024/5/5/24149543…
in reply to Dave Troy :toad:

4/🚨It gets worse. Blockchain Capital LLC was co-founded by Steve Bannon pal Brock Pierce, a major crypto advocate, perennial presidential candidate, and close friend of Eric Adams. Pierce has dozens of other shady MAGA/Russia ties as well.
universeodon.com/@cryptadamist…


For some reason people fleeing the sinking #Twitter / #X ship for #BlueSky don't seem to be aware of the fact that crypto bros at #BlockchainCapital bought a huge stake in the company just a few weeks ago. Like these are basically the same crypto bros who just helped #ElonMusk buy Twitter. They might even be literally the same people (I strongly suspect they are but I'm too lazy to check). Either way #BlockchainCapital was co-founded by #BrockPierce, who also brought you #Tether, AKA the company that Trump's transition team chairman manages $120 billion for. Pierce is also a friend of the #Netanyahu family.

You don't have to take my word for it. Here's the official press release: bsky.social/about/blog/10-24-2…

Moving to BlueSky is not an escape. Growing a base there is just putting in a bunch of work to create a platform that will be co-opted by crypto bros as soon as X breaks in half.

p.s. crypto bros (#a16z) also own #Substack

#crypto #cryptocurrency #bitcoin #USDT #Trump #DonaldTrump


in reply to Dave Troy :toad:

5/Eric Adams was a frequent guest on Pierce's jet. Steve Bannon helped Pierce raise $60mm from Goldman Sachs 20 years ago for his "World of Warcraft" mining arbitrage play, Internet Gaming Entertainment. So you probably don't want anything to do with Bluesky long term.
nypost.com/2021/11/23/eric-ada…
This entry was edited (1 week ago)
in reply to Dave Troy :toad:

6/Possibly Bluesky can address this by discussing their funding in detail, the expectations of the funders, and whether the TPOT/PostRat community is still a principal driver of the vision for the "company." But this all points to another rug pull in progress, and a lot of credulous people hurt.

While it is reasonable that the company acknowledged that Dorsey's vision of "moderation by protocol" was unfeasible, it sets up a highly centralized model that is now subject to capture.

in reply to Dave Troy :toad:

7/And the next investment they took was from anarchocapitalist cryptobros with ties to Russia? Doesn't add up.

For those interested, here's the original post I shared here back in 2023 re: the TPOT DNA and origins of the network.
easyzoom.com/imageaccess/884cb…

in reply to Dave Troy :toad:

8/From Bluesky's press release:
"[Blockchain's] Kinjal Shah will join our board. Kinjal shares our vision for a social media ecosystem that empowers the people who use it, and we are glad to have her support as we invest in driving the adoption of decentralized social."

bsky.social/about/blog/10-24-2…

in reply to Dave Troy :toad:

9/The company should try to address this by publishing a clear and convincing "trust story" that offers assurances about its funders and their motives, similar to an S-1 prior to an IPO. Creators deserve to have a clear picture so they can decide whether and how to invest. Basic transparency.
in reply to Dave Troy :toad:

This is all good for people to know, but *please* don’t call these jerks “anarchists” or call it an “online anarchist movement”. They don’t want to be regulated *themselves*, but they are actively trying to subjugate and exploit others, which is anathema to anarchism.
in reply to Mg. Moss

@Moss seconded; they are marginally "ancap" (anarcho capitalist) but plenty of tescrealists are happily swinging to / already were hard statist now that a hard right austerity administration is coming to power in the US. like cryptocurrency, it's a technocratic capitalist movement that seeks to seize power from the state and, rather than dismantle it, turn it into a money printer for a new(ish) generation of totally unaccountable plutocrats.
in reply to Robert [KJ5ELX] :donor:

@0xF21D @jplebreton @Moss
They are all people deluded in the shared belief that the climate catastrophe & global nuclear war they are building towards is survivable...for those with bunkers.

Nicole Parsons reshared this.

in reply to Dave Troy :toad:

Thanks for the thread. I agree with your recommendations: Bluesky needs to publish a clear and convincing "trust story"; and peopel should be very skeptical about the long-term possibilities of Bluesky.

Also, on the moderation front, Dorsey was replaced on #Bluesky board by Mike Masnick, who's also very libertarian. Masnick's a lot smarter than Dorsey, and does understand the importance of content moderation. Still, one of the examples Masnick's "Protocols not platforms" paper that inspired Bluesky (and Nostr) uses to discuss about why the protocol approach is better is that it allows Alex Jones fan to still reach his audience: "those who don’t wish to be bothered with his nonsense need not deal with it; those who do wish to see it still have access to it."

knightcolumbia.org/content/pro…

I still see Bluesky as a useful short-term Twitter alternative (Meta and Threads are already doing all the things that Bluesky is likely do in the future, it's a lot easier to get up and going on Bluesky than Mastodon, and Blacksky is the only thing I know of in the decentralized world that's a good path for Black Twitter. Still, even without all the important points you make, and the "we don't have to ban Alex Jones" factor , they're a venture-funded startup, so once they need to monetize they're very likely to turn to an exploitative business model. So while it's situationally useful, it's not a promising long-term base.