"the company looked at the history of social media over the past decade and didn’t like what it saw… existing companies that are only model motivated by profit and just insane user growth, and are willing to tolerate and amplify really toxic content because it looks like engagement… "
This seems like a reasonable and insightful take. Is there a way a non-profit could still survive in silicon valley? For ex, IETF isn’t a profit focused organization.
I’m not sure if this qualifies exactly but the FOSS 3D package Blender has been surviving for quite some time. They’re in Amsterdam, not silicon valley, but they seem to do really well off primarily donations and funding from some big companies.