You are right that it's not specifically required do donate a certain percentage of your profits. It's even more vague than that. It basically just means that you need to commit to a certain "public benefit" in your certificate of incorporation:

"The Certificate of Incorporation of a benefit corporation commits the company to spending some of its profits or resources (or both) in support of a specific public benefit. If a benefit corporation decides to stop doing business and dissolves, the shareholders receive the proceeds of the sales of assets, after liabilities are paid." (from https://www.delawareinc.com/blog/non-profit-corporation-vs-p...)

I fully agree that a PBC isn’t a panacea. That doesn’t change the fact that you’re confidently asserting incorrect things. I don’t expect that you’ll change your mind, so I’m not trying to convince you, I just want to make sure that the facts are laid out.

That I change my mind about what?

What I'm saying is that very likely Bluesky will grow for a few years without making a cent of profit, and be acquired by another company. And this has not much to do with if they are a PBC or LLC or whatever...

> But the decisions you made with ATProto so far make real federation almost impossible.

This kind of stuff.

> very likely Bluesky will grow for a few years without making a cent of profit, and be acquired by another company.

Or this bit.

It's fine, you're entitled to your opinion. I see things differently. I just mean I'm not trying to convince you of that stuff.

% of VC-funded tech startups that exit via appreciable >$0 acquisition is actually not particularly high relative to total failure/success, which makes sense if you think about it. The odds would seem even lower in this case just for mentioning the word "federated," regardless of the tech.