Successful technology companies follow a typical pattern from product to platform that other startups build their businesses on. To facilitate this, they often launch funds. In this case, someone else is starting a fund to support Bluesky, a fast-growing social media site that currently has 25 million users.
On Wednesday, open source and Python mogul Peter Wang announced a fund called Skyseed with an initial $1 million war chest. Bluesky is a decentralized social app developed by Jack Dorsey (although Dorsey left the Bluesky board in May). It was launched five years ago and became popular as an alternative to Elon Musk's X.
The fund will provide grants to companies building Bluesky's open source AT protocol. They are looking for technologies such as data privacy management for AI use and apps for parents and children and local communities.
Correction: Bluesky says the fund is independent from the company. This story has been updated to reflect that information.