Venture Capital has a way of despoiling a product or service by focusing only on growth and (ultimately) profits. This means that the typical approach is to invest a lot of money (edging out less-endowed competitors), and then jacking up the revenue streams, usually by lowering quality and increasing enshittification. Cory Doctorow used this term to describe the business behavior of online platforms, but it applies equally to software, and services, of any kind.
Not everything funded by Venture Capital enshittifies, but much of it does, following in the footsteps of LBOs and private equity raiders, venture capital bakes in the leverage through ongoing increasing ownership by capital. Yes, there are exceptions (we need to look at the actual capitalists, though they may sell you down the river at the drop of a hat (their prerogative).
The idea is that any software or service needs to have its business model, and funders, scrutinized. [Bluesky](Public Benefit Corporation.) tries to get around this by setting up a Public Benefit Corporation but one can become that by simply stating it in one's bylaws. There are no actual criteria, other than stating it, and presumably having other motives than profit (but this is for for-profit corporations). So there is no bite to this statement.
Bluesky says it will interoperate with other instances using the AT protocol, but there are no others. In addition, it has horrible privacy policies for its app. Yes, there are third-party apps, but what does this say about motivations?
Frankly unless Bill Gates is funding you, I'm not interested. We need sustainability throughout society and privacy violators and enshittifiers are not a part of that.
The travesty that is the Mozilla foundation and what it has done with Firefox is another part of this sad story of something interesting and important being destroyed in the name of capital. What other purpose was there for the hundreds of millions of dollars from Google but to bring the market share of a browser into near obsolescence, while tens of millions of dollars went to leadership.
While the case can be made that some ventures could not exist without venture capital, the vast returns have enabled truly horrible people to begin to dismantle the government of the United States. This kind of thing happened before in other countries and the capitalists have by and large played no small role in the terror unleased. It is time we see what these companies actual are, parasitic and debilitating.