Bluesky, the open-source social network that’s turning heads, has declared itself “billionaire proof.” Under the leadership of CEO Jay Graber, the platform has not only differentiated itself from competitors like Elon Musk’s X and Meta’s Threads but has also offered a vision of user empowerment and open accessibility. Here’s how Bluesky is redefining the social media sector.
A Design Built for Freedom
Bluesky structure is intentionally crafted to help users maintain control over their online presence. Speaking to CNBC’s Money Movers, Graber emphasizes that the platform’s open design enables users to retain their followers and migrate easily if needed.
“The billionaire proof is in the way everything is designed,” Graber explained. “If someone bought the company or if Bluesky ceased operations, everything remains open source. Users could move without losing their network.”
This stands in stark contrast to platforms like X (formally Twitter), which saw an exodus of millions following Elon Musk’s controversial acquisition in 2022. For Bluesky, decentralization is a safeguard against monopolistic control.
Rapid Growth and Competition
Since the recent U.S. presidential election, Bluesky has seen a surge in popularity, adding over 7 million users in just two weeks. With 21 million users, the platform is gaining traction but still lags behind giants like X and Threads.
Meta’s Threads boasts around 275 million monthly users, according to CEO Mark Zuckerberg. Meanwhile, estimates for X’s user base hover around 318 million, despite Musk’s claim of 600 million monthly users earlier this year.
A Vision Rooted and Transparency
Bluesky began as an internal project at Twitter during Jack Dorsey’s tenure as CEO in 2019. By 2022, it evolved into an independent public benefit corporation. Although Dorsey is no longer on Bluesky’s board, his influence on its mission remains evident.
“In 2019, Jack had a vision for something better for social media,” Graber said. “We’re building an open-source social network that anyone can take into their own hands and build on. It’s radically different—nobody’s been this open or transparent.”
Graber’s background as the founder of Happening, a social network focused on events, has also informed Bluesky’s user-centric approach.
A Different Monetization Model
While most social platforms rely heavily on algorithm-driven ads for revenue, Bluesky is taking a different route. According to Graber, the platform is exploring subscriptions for special features and expanding services for third-party developers.
“There’s a lot on the road map,” she said. “What we’re not going to do is build an algorithm that shoves ads at you. Locking users in with ads is not our model.”
This commitment to avoiding intrusive advertising aligns with Bluesky’s goal of prioritizing user experience and autonomy over profit-driven practices.
Funding and Future Plans
Bluesky’s open-source philosophy hasn’t hindered its ability to attract investment. In October, the platform announced a $15 million funding round led by Blockchain Capital, bringing its total funding to $36 million. These resources fuel plans to enhance its “developer ecosystem” and further distinguish itself from competitors.
Bluesky has experienced notable growth spurts, such as in September when it gained two million users following X’s suspension in Brazil due to content moderation controversies.
A New Standard for Social Media
Graber’s leadership is steering Bluesky toward a future where social media isn’t just a platform for connection but a domain owned and controlled by its users. Bluesky is carving out a unique position in the digital ecosystem by embracing transparency, rejecting intrusive advertising, and offering true portability.
“What happened to Twitter couldn’t happen to us in the same way,” Graber said.
In an era dominated by tech giants and billionaires, Bluesky’s rise suggests there’s still room for platforms built on trust, openness, and user empowerment. Whether it can sustain its growth and compete with the likes of X and Threads remains to be seen, but for now, Bluesky is charting a new course for the future of social media.
