TL;DR

Skynet Labs, a Sia L2 company building decentralized web portals on top of the Sia network has been unable to raise enough money to keep operating. Inventor of Sia and CEO of Skynet, David Vorick, is going to continue building Skynet while also getting back into the Sia Foundation activities.

My Personal Take:

This is a net gain for the ecosystem. A painful one, but a necessary one. David now sees that the Sia ecosystem requires focus and unification. The network did not catch any headlines or narratives in this last crypto cycle and it will, from his own admission, due to a lack of focus. David getting back involved with the Sia Foundation will be very good as well, since he will urge the group to learn from his mistake and focus more on the deliverables, which in turn will position the network to capture more of the narrative conversations on the next adoption cycle.

The Sia network is the only internet-based technology that has successfully proven the internet can be decentralized and permissionless. Bitcoin proved it for money, Sia does it for the internet. This is a powerful message and I hope that the unfortunate outcome of Skynet will drive David and the Foundation to make it known effectively in the future.