Buffett's Next Big Investment... Is It This Gold Play?

Buffett's $325B cash pile is losing value fast - and one gold miner could be his next move. It trades at a 43% discount to its free cash flow, and fits his criteria to a T. With gold set to soar and valuations stretched, now's your chance to front-run Buffett before August 15.

Jack Dorsey Says Bluesky's Rapid Expansion Fueled by X Exodus: 'Not a Great Way To Build a Product'

Bibhu Pattnaik
February 15, 2025

 Jack Dorsey, co-founder of Twitter, now known as X, has shed light on the accelerated growth of Bluesky, attributing it to a mass exodus of users from X.

What Happened: In a recent podcast, Dorsey voiced his belief that users are “running away from X, rather than running to something on Bluesky”.

Bluesky, which began as an internal project at Twitter, was launched as a separate public benefit corporation in 2021. The platform witnessed a surge in user signups in November, which coincided with a wave of users departing from X following the election of President Trump, who was financially backed by Elon Musk, the current owner of X.

“I think people are running away from X, rather than running to something on Bluesky. That’s not a great way to build a product, unfortunately. We want people that are running to us for a particular thing that they couldn’t do before,” as quoted by Insider he said in the podcast.

Despite stepping down from Bluesky’s board of directors last year, Dorsey maintains a positive outlook on the platform’s future. He underscored the platform’s distinctive feature that allows users to select their own algorithms as a major draw for users.

Also Read: Jack Dorsey Says Elon Musk Shouldn’t Have Bought Twitter: ‘He Should Have Walked Away’

“Bluesky has built something that I wanted it to build and I’m excited about, which is this algorithm store, being able to choose your own algorithms,” he added.

“That is a reason why people will run to it eventually, and I think why people run to these services eventually because they get more agency and more control -- but it’s not something that people care about right now,” he said.

Bluesky’s CEO, Jay Graber, has reassured that the platform is “billionaire-proof” and presents a radically different approach to social media, emphasizing user control and open-source development.

Why It Matters: The rapid growth of Bluesky and the mass exodus from X signify a shift in user preferences in the social media landscape. Users are increasingly seeking platforms that offer greater control and transparency, as evidenced by Bluesky’s unique feature of allowing users to choose their own algorithms.

This trend could potentially reshape the future of social media, with platforms like Bluesky leading the way.

Read Next

Jack Dorsey’s Block Eyes Over 39% Upside: BofA Says US-Centric Re-Acceleration Story Will Drive The Stock

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