The only way to fight the venture capital model is not to support the product in the first place. Venture capital is private subsidy that keeps the startup alive long enough until enough people have joined their platform. At this point, it’s too late. By being part of the platform we have created its value. This is the value that is sold in an exit. The only way to resist this system is to not build that value in the first place. Once a network has grown to the sort of size Facebook or Twitter has, there is very little anyone can do. But we have an opportunity to make sure that new networks that are funded by venture capital do not reach that point.
I’m sorry, Paul, but by taking venture capital you have made a crucial mistake that is incompatible with the goals you set out in your manifesto and I will not support yet another venture-capital funded network only to be disappointed at the time of the inevitable exit.
So here’s what I’m doing: I’m leaving Ello. Before it can grow. Before it can exit. And I suggest that you do the same.
Or, even better, do not join it in the first place.
*read more at https://aralbalkan.com/notes/ello-goodbye/