Silicon Valley Daily

“Why did team X raise Y at Z whereas team A only raised B at C?”

1. Market, team, product all count but one more than others 

2. Fundraising is a skill, funds raised is an output

“This does not change the fact that the Bluesky app and the AT Protocol do not use blockchains or cryptocurrency, and we will not hyperfinancialize the social experience (through tokens, crypto trading, NFTs, etc.)”

We think crypto is bad so we raised from a crypto VC

Got it

it's giving Socialism with Chinese characteristics

That was alao my initial take

https://x.com/boscolochris/status/1849799091468837354

more like 'our userbase consists of a lot of the tech-left who are rabidly anti crypto so we need to do some virtue signaling to reduce the amount of teeth gnashing that occurs'

Equally hilarious that crypto funds invested in them. Guess they’re desperate to have a “web3 social” play in the portfolio.