• Natanael@infosec.pub
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    3 days ago

    No, public benefit corporations specifically don’t work like that. They’re comparable to non profits in that manner

    • 73ms@sopuli.xyz
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      3 days ago

      They’re not. In practice PBC status doesn’t really limit them very much at all and is nothing like nonprofit.

        • 73ms@sopuli.xyz
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          1 day ago

          It’s not just a label but it guarantees practically nothing because it only means they are allowed to consider things other than shareholder profit. It doesn’t in any way ensure that they do and a PBC is mostly treated just the same as a for-profit company.

          Obviously it isn’t just the team that owns Bluesky at this point since they have had multiple rounds where they’ve raised venture capital. That is an old bit of information that I think they still have up on the site despite it being both vague and obviously false.