Keyword here is 'now'. I understand they needed to make that shift of founding a company to receive funding, but their arguments why they did that weren't compelling (at least to me). Point is, someone will want to get his ROI someday. Possibly to the detriment of the users. Plus, a central company can be sued more easily (by law enforcement etc.)

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Agreed. If they are just making the best product possible so that they can exploit their users for profit once they have network effect, and when it’s difficult to leave, that’s not good. That’s exactly what WhatsApp did. WhatsApp used to have great privacy, originally.