??? Could Bluesky dethrone Twitter?

The recent appointment of Musk and Ramaswamy to the Department of Government Efficiency (DOGE) is sparking assumptions, hopes, and deep fears. One of the proposed measures gaining attention is their stance on remote work. In simple terms: for them, it’s not an option.

On another note, still tied to Musk but for different reasons, X, formerly Twitter, might soon face a formidable rival. Enter Bluesky, a platform whose recent growth has thrust it into the spotlight with more momentum than ever.

Before diving into the rest of the news, don’t miss the latest video on?Budgeting a Startup Funding Round. Have a great weekend!

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Six bullets of updates

1. ???Northvolt's CEO is stepping down, saying the Swedish battery cells maker needs up to $1.2 billion to stay afloat.
2. ?? Spotify has learned this from its ‘work from anywhere in the world’ policy, which has existed since 2021.
3. ???Marissa Mayer, from Sunshine, just laid out a possible business model for?ad-supported AI chatbots.
4. ???Chroma, backed by Pinterest and Twitter co-founders,?will sell to AI audio company Bronze. Bronze is?building a new type of audiovisual entertainment.
5. ?????Deeptech, remote work and great trains: Why French tech’s?Paris-centricity might shift.
6. ???Among the biggest startup funding states,?California gains while Massachusetts declines.

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The Bluesky effect: Should Twitter be concerned?

Bluesky's rapid growth is a clear challenge to X, formerly Twitter. The decentralized platform, originally a Twitter project now led by CEO Jay Graber,?has gained 20M users in nine months. Its appeal stems from a user-friendly interface reminiscent of pre-Musk Twitter and AT protocol, offering transparency and decentralization. Disillusioned by X’s biases, toxicity, and controversial policies, many users—especially after the 2024 U.S. Presidential Election—have shifted to Bluesky.

Twitter should be wary?as Bluesky attracts influencers and high-profile users, boosting its credibility. With user-controlled communities and a moderation approach less focused on monetization, Bluesky contrasts sharply with X’s polarizing policies. This shift highlights dissatisfaction with legacy platforms and positions Bluesky as a compelling alternative, exposing X’s struggle to retain diverse, engaged users.

Yet, Bluesky must meet growing demands while avoiding political bias and ensuring effective moderation. CEO Jay Graber’s leadership will be critical as scrutiny increases. While not yet a rival in scale, Bluesky’s momentum signals a strong demand for fresh platforms, pressuring X to adapt.?Read more!

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Startup Events and Deadlines

1. From Pitch Deck to Funding?| Nov 25 | Webinar
2. VC and Angel Investors NYC Meetup?| Nov 26 | NYC
3. From Pitch Deck to Funding?| Nov 28 | Webinar
4. NYC B2B: Pre-Seed + Seed Founders & Investors Meetup?| Dec 3 | NYC
5. EdTech?| Dec 9 | Paris

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These companies just raised money

1. ? Crusoe Energy secures $686M in funding to?expand AI data centers?amid booming demand and environmental concerns.
2. ??? Wiz acquires Dazz for $450M, enhancing its cybersecurity platform for?45% of the Fortune 100 companies.
3. ???Lighthouse became Europe's latest unicorn with a $370M raise. It crunches 400TB of?travel data to aid 70,000+ hotels.
4. ?????Zepto secures $350M in funding, eyes IPO, and aims for 150% growth amidst?India's $42B quick-commerce boom.
5. ?????Mexican fintech?Minu raises $30M Series B for expansion, serves 1M employees, and?reduces?turnover by 33%.
6. ?? Fintech Solvento raised $12.5M in Series A funding to?expand its trucking payment solutions, financing $180M+.

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Musk’s Take on RTO: A Strategy for Quitting

Elon Musk and Vivek Ramaswamy, leading the Department of Government Efficiency (DOGE), outlined?plans to streamline the federal workforce?in a?Wall Street Journal?op-ed. They proposed mandatory full-time office attendance for federal employees, arguing it would prompt voluntary resignations: “If federal employees don’t want to show up, taxpayers shouldn’t pay them for the COVID-era privilege of staying home.”

This policy could?impact over a million federal workers, about half of whom currently enjoy some remote work. Musk’s stance aligns with his corporate practices, including banning remote work at Tesla and SpaceX and slashing Twitter’s workforce by 80%. He’s labeled remote work “morally wrong,” insisting on in-office collaboration despite employee resistance.

While some claim return-to-office mandates foster collaboration, critics see them as tools for attrition. Musk and Ramaswamy are unusually blunt, openly welcoming resignations as part of their strategy to reduce the federal workforce and push their efficiency agenda.?Read more.

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Budgeting a Startup Funding Round

Explore the art of financial modeling with Caya, CEO of Slidebean, in this transformative online webinar. Learn driver-based modeling, build a model from scratch, and gain insights to elevate your startup’s financial strategy. Perfect for founders looking to optimize their business!?Subscribe here!

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