For anyone wondering why #VentureCapital (#VC) is a bad idea, here's an example of a supposedly ethical social network that was enshittified and destroyed by VC money:

https://waxy.org/2024/01/the-quiet-death-of-ellos-big-dreams/

"VCs ... primarily invest money in startups to get a return on their investment, on behalf of their limited partners. That (is) usually an exit: an acquisition or an IPO."

"(VC-backed projects) will inevitably be pushed towards profitability and an exit, even if it compromises their current values. Sometimes, this push comes subtly in the form of advice... Sometimes, as more direct pressure from the board.... or by replacing the founders."

The Quiet Death of Ello's Big Dreams - Waxy.org

Ello launched in 2014 with big dreams, but the artsy social network suddenly shut down last year, deleting nine years of posts without warning. What happened?

^{Andy Baio (Waxy.org)}