The Quiet Death of Ello’s Big Dreams
https://waxy.org/2024/01/the-quiet-death-of-ellos-big-dreams/
Remember Ello?
Ello died quietly a few months ago.
The social media site promised to put its users first.
Ello promised not be funded by selling third-party ads, not sell user data, and to bind any future company owner to the same terms. In the end, Ello broke all of its core rules. Then Ello shut-down so quickly that it didn't give its members any warning or time to get out with their user-generated content.
This article is a cautionary tale of how high ideals mean nothing when you accept VC money. At some point, the VC money dries-up and they want to collect on their debts.
Also, I think it's notable that one of the founders went on to startup a company selling NFTs / crypto, and when that collapsed, he pivoted to a new startup churning out AI garbage.