Paraphrasing this from someone, but an app built by 20 people which has 23 million high media consumption users is by some measures outpunching competitors that have 10x+ the users and literally 1000x the financial resources, seems noteworthy.
Reposted from
Matt Karolian
Traffic from Bluesky to @bostonglobe.com is already 3x that of Threads, and we are seeing 4.5x the conversions to paying digital subscribers.
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Meanwhile, the fact that they basically just recreated the "good" competitor who imploded and that it's worked so well is objectively hilarious.
What did IG have pre-purchase, like 9 employees?
twitter (2009-15) could’ve been a lean mean money machine with like 1/12 the headcount and the right monetization strategy
1) Large user base, slowly marginalized then suddenly alienated, already searching for an alternate home.
2) MUCH cheaper to recreate existing tech / product market fit than invent it anew. See China. **Still all credit due bsky team here*
Needs more users, more investment and more tech support. Otherwise, it risks duplicating what the other guy did.
Plus in this case it required a series of ever higher profile failures by competitors to lead developers to build an alternative and then have waves of users looking for those alternatives
Unlike social media, there’s minimal network effect to drag other users along with them, and no major failures driving people away