@_elena - completely agree with this. If Bluesky have taken $100m then someone is expecting north of $1b back, so the question is whether there's a way to achieve that which is aligned with the community, and even if there is, whether management has the discipline (and strategic skill) to avoid being distracted by easier wins or bigger prizes. We've had more than 20 years of people trying and failing to do that, and I've not seen anyone credibly arguing that something fundamental has changed.

We mustn't be complacent about ActivityPub though - as I see it there are very few protocols which are genuinely open, to the extent that they couldn't be easily captured by a sufficiently well funded motivated party. Those which are (HTTP, email, JSON, etc.) have been widely used for a long time, so there's a lot more work to do.