Post B4S3HlkKQvlOtkdNUO by patpro@social.patpro.net
 (DIR) More posts by patpro@social.patpro.net
 (DIR) Post #B4RxNOWn4X4wtsbKFs by _elena@mastodon.social
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       Can you imagine Mastodon raising 100 MILLION dollars from a crypto VC fund and failing to disclose it... for a full year? No I can't either.And from their actual press release: "The Atmosphere currently contains about 20 billion public records—the posts, likes, comments and other interactions that bring the ecosystem to life. It's an astonishing collection of what open social infrastructure makes possible."https://bsky.social/about/blog/03-19-2026-series-b How I read it: data harvesting at its finest 💁‍♀️ #Bluesky
       
 (DIR) Post #B4RxNOiqLiihVGEx2e by _elena@mastodon.social
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       Mike Masnick, who sits on the board of #Bluesky, claims the team was too busy to announce the series B funding (see screenshot).But something is fishy.Even the VC firm - Bain Capital Crypto - isn't listing Bluesky anywhere on their website: https://baincapitalcrypto.com/portfolio/Why the mystery? Was Bluesky afraid of a public backlash & asked to keep the information under wraps?Sorry if I keep repeating myself but I will forever be skeptical of Bluesky and think of the tale of the scorpion and the frog.
       
 (DIR) Post #B4RxNOynOPTqIjhguG by tedmielczarek@mastodon.social
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       @_elena all the startups I've worked for have blasted out press releases the moment their funding rounds closed. Part of being a startup means constantly vying for attention. This explanation does not hold up.
       
 (DIR) Post #B4RxNP8Mop8WmQBKpE by abucci@buc.ci
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       @tedmielczarek@mastodon.social @_elena@mastodon.social I have had the same experience. I co-founded a startup in 2016 that managed to secure a funding round, and the VCs themselves were giddy about announcing it as widely as possible. I've consulted for startups both before and after that, and as far as I'm aware every one of them that secured funding rapidly announced it. This explanation from Bluesky does not pass a basic smell test.
       
 (DIR) Post #B4S3HlkKQvlOtkdNUO by patpro@social.patpro.net
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       @_elena Bain Capital Crypto is involved in the European project supposed to create an alternative to GitHub. Super red flag, I think.https://goodtech.info/tangled-levee-fonds-alternative-open-source-github/
       
 (DIR) Post #B4SM6mwpWWq2ZJxWro by stux@mstdn.social
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       @_elena I'm pretty sure the WHOLE of the Fedi does not meet 100M costs in 10 yearsCombined
       
 (DIR) Post #B4SXJTjFOF0YDprLwu by stux@mstdn.social
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       @_elena Oh totally! It's super nuts!I can't even imagine 1 mil, let alone a 100 times that