Focused on private groups of friends and family, Yope has raised $12.3 million in seed funding from investors betting that the future of social networking lies in small, private communities powered by messaging, photo sharing, and, blergh, AI features designed to strengthen real-world relationships. It sounds kinda like old-school Facebook meets the fediverse, but with AI.
the fediverse works because its not trying to make money. if this company raised money already that means people believe they will see a return. so how does it make money?
i cant read the article because i guess techcrinch has i trusive ads and doesnt like my ad blocker
That and VC, apparently.
Lotsa luck!
*stage whisper*: It’ll never work
Well, It’ll work for the founder(s) who will probably sell the company at the height of the platform’s popularity for stupid amounts of money.
The new owners (or the OG VC investors) will want a return on their investment though, of course, and the platform will rapidly enshitify pushing out the userbase. Or maybe the users will just deal with it because of the network effect and all. Eitherway the founder(s) will have gotten rich off the sale so they don’t care anymore which is pretty much the only goal in founding a company at this stage of capitalism