this post was submitted on 17 Jul 2025
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Twitter founder Jack Dorsey pumps $10 million into a nonprofit to build Nostr-based social media apps (techcrunch.com)
submitted 1 day ago by artifex@piefed.social to c/technology@lemmy.world
56 comments fedilink hide all child comments
 

Having fucked up social discourse with Twitter and then Bluesky, Jack Dorsey claims he has seen the error of his ways, and definitely won't do it a third time with his new nonprofit aimed at helping developers build and deploy (OSS or commercial) social media tech built on the Nostr platform (with AI!). Yeesh, I might be biased. Maybe I shouldn't be writing these summaries.

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[–] TranscendentalEmpire@lemmy.today 33 points 1 day ago (1 children)

I feel like nonprofit should come with default quotations nowadays. At this point it's just a way to avoid taxation during development until you have a feasible route to profitability.

[–] acosmichippo@lemmy.world 5 points 1 day ago (1 children)

don't you avoid taxes anyway if you're not profitable?

[–] TranscendentalEmpire@lemmy.today 9 points 1 day ago (1 children)

Nah, you still end up paying state and local taxes. Income/revenue is different than profit.

Plus, being a non profit allows for people like Jack to utilize donations as tax deductions.

[–] themurphy@lemmy.ml 4 points 1 day ago

We need stronger rules for non profits then.