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this post was submitted on 04 Apr 2024
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This post is by the Matrix foundation, not Element.
This post was made by the CEO and founder of Element
And ? Obviously it's not the for-profit structure which would benefit from donations. VC money is one way of financing things (which has the cash burn rate issue), public money and donations is another, why would changing from one model to another be something bad?
Why is it obvious? See https://github.com/matrix-org/matrix-spec/issues/571
Literally only the last comment gives any real data about how that money is being spent (and the annual report mentioned hasn't been published yet).
I think the change is positive in general, but they really haven't done a good job w.r.t transparency, and the Matrix ecosystem is still reliant on a for-profit company.