Learning more about Bluesky, and TIL PBLLCs, which balance public benefit against shareholder financial interests. Neat! Curious though: Bluesky's PBLLC blogpost says initial funding for the PBLLC was provided by Twitter in 2021. So... what's the current ownership split of bsky? - ThreadSky

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dave.tf • 710 days ago

Learning more about Bluesky, and TIL PBLLCs, which balance public benefit against shareholder financial interests. Neat!

Curious though: Bluesky's PBLLC blogpost says initial funding for the PBLLC was provided by Twitter in 2021. So... what's the current ownership split of bsky?

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dave.tf•710 days ago

In particular, I'm curious because depending on the PBLLC's home state, a big enough chunk of shareholders (2/3 in Delaware) can alter the public benefit objectives. So, knowing who effectively owns bsky feels important to understand the risk of future ethical drift.

dave.tf•710 days ago

A bit more digging: bsky is a Delaware PBLLC, which is one of the places where PBLLC public benefit objectives have teeth, which is good.

Also found a statement from Dorsey that twtr doesn't own bsky, despite being (afaict?) its sole funding source. So, what _did_ twtr get in return for funding?

snarfed.org•709 days ago

Confirmed just now: https://staging.bsky.app/profile/jay.bsky.team/post/3ju65fvwo6h2q

Any chance you have the link to Jack's own statement handy?

snarfed.org•709 days ago

Re what they got in return, evidently it was more a grant. "Twitter's funding of Bluesky is not subject to any conditions except one: that Bluesky is to research and develop technologies that enable open and decentralized public conversation." https://twitter.com/bluesky/status/1518707606881067008

richburroughs.dev•708 days ago

Apparently Jack still has one of the three board seats too.

dave.tf•708 days ago

not on hand, it was a tweet from Jack in early 2022 I think? I found it via a press article talking about the potential impact to bsky of the twitter buyout, from around the time of the initial purchase offer.

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