Bluesky Rises: Decentralized Social Network Challenges Twitter and Threads

In a significant shift in the social media landscape, Bluesky, a micro-blogging startup, has amassed a user base of over 22 million since Election Day, with 8.7 million new users joining in a remarkably short span. This meteoric growth is attributed to the platform's decentralized and open nature, which allows users to seamlessly transfer their data, rendering it "billionaire-proof."

The departure of former Twitter CEO Jack Dorsey from the company has lent credibility to Bluesky, particularly among users seeking an alternative that eschews the power dynamics of big-tech giants. Unlike its parent company, Bluesky has explicitly stated that it has no intention of building an online ad business, while leaving the door open to non-intrusive community-based models. Notably, Bluesky's cut ties with Twitter's legacy, rendering it a fully independent entity.

As the startup's user base expands, future business strategies are coming to the forefront. Bluesky's envisaged model may incorporate a payments platform, permitting users to engage in transactions, with the company taking a small percentage as its revenue stream. However, this eventual monetization could potentially create tension with users.

Bluesky's rapid growth, registering over 50% of its new user acquisition in a brief period, has led to a pressing need to bolster its content moderation team. The trust and safety team, faced with increasing gray-area content, has expanded its contract workforce of content moderators from 25 to 100. Strategists within the company see this influx of users as a turning point, as the growth could translate into increased revenue in the long run.

As Bluesky continues its rapid ascent, it will be crucial for the startup to strike a delicate balance between its values and the needs of a growing user base, ensuring that its vision for a decentralized social network remains a positive experience for all users.