Thoughts on Bluesky

Post by shafyy » Wed, Nov 20, 2024, 10:04 PM UTC

purlane wrote: post #47

shafyy wrote: post #44

Earlier quoted context omitted.

> Legally, it means that the company has other priorities that it must consider equally to creating profit. Ok, so it's even more vague than how I understood it. This could mean anything. Venture capital does not care about profits, they just care about selling their share at a considerably higher price than they bought it within ~ 7 years. In reality, most of the time, this happens through an acquisition. Many times…

I think you should reread my comment, as I have already answered this. The "control" that shareholders have over the company is severely limited, and they have limited legal recourse against company leadership if they decide to use profits in a manner they disagree with, but fulfills their charter. It should be fairly obvious in my example that it is not in the best interests of the shareholders to quite literally gi…

Post by computably » Thu, Nov 21, 2024, 1:53 AM UTC

shafyy wrote: post #50

steveklabnik wrote: post #45

Earlier quoted context omitted.

I fully agree that a PBC isn’t a panacea. That doesn’t change the fact that you’re confidently asserting incorrect things. I don’t expect that you’ll change your mind, so I’m not trying to convince you, I just want to make sure that the facts are laid out.

That I change my mind about what? What I'm saying is that very likely Bluesky will grow for a few years without making a cent of profit, and be acquired by another company. And this has not much to do with if they are a PBC or LLC or whatever...