You have mastodon, which actually made a federated social media platform, but which has failed to become mainstream, and Blue sky which became mainstream, but has failed to actually become federated.
It makes sense that this is a limiting factor. However, I think it’s good that outside investors are kept out so that the business can serve the interests of its employees long term. Once the gears are in motion, I think it could work. Also, if these worker cooperatives were formed by people willing to work for basics like food and shelter initially, as well as equity, then they have a better chance.
Left reddit during the API drama out of principle. I only read reddit now via 3rd party apps, I don’t contribute. I spend most of my time on Lemmy. My goal is for enough niche communities to grow here that I can give up reddit entirely.
You have mastodon, which actually made a federated social media platform, but which has failed to become mainstream, and Blue sky which became mainstream, but has failed to actually become federated.