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This is guesswork. Facts: They raised a $60m D in July 2019. Guesses: Patreon loses money (ie, they're a startup). This may be due to solely due to internati

by x0x0 7y ago

This is guesswork. Facts: They raised a $60m D in July 2019. Guesses: Patreon loses money (ie, they're a startup). This may be due to solely due to international, the use of the round D, or not. Either way, they -- much like the startup I run -- are immediately planning how to go 24-36 months without any additional investor cash. Because your investors will still expect you to meet growth targets to get that next round regardless of covid. Speaking for myself only, we've taken to heart the cut once, cut fast mantra that every company that came through 2008 says is the right thing to do. And we've figured out how the company will go for more than two years without additional cash, or be able to tolerate 20q2 being a sales disaster. Those both require immediately cutting burn.

NamTaf 7y ago
Although that makes sense as to why they may cut, none of that addresses the two statements the grandparent quoted, though. They wrote in a blog post in March that patrons are not leaving the platform, and then at the same time they apparently reported that they were in fact leaving. Which is it?
- taneq 7y ago
  In March most of the world went from "everything's fine here, situation normal" to shooting out the radio and diving head first into a trash compactor. That might have affected a few things.
  - dajohnson89 7y ago
    What does shooting out the radio mean?
    - rabidrat 7y ago
      It's a reference to a scene from Star Wars: https://www.youtube.com/watch?v=4FSV8w1UoZA https://www.youtube.com/watch?v=4FSV8w1UoZA
- x0x0 7y ago
  I kind of assumed people were aware of events since 26 March. For instance, on 26 March, 3.3m weekly unemployment reports was by far the largest ever reported. I also suspect some of that type of reporting may lag, and if a ceo or finance team orders it to be shown daily, may be surprised at what a week or two of reporting lag does in the time of the aforementioned events.

by x0x0 7y ago

NamTaf 7y ago

Although that makes sense as to why they may cut, none of that addresses the two statements the grandparent quoted, though. They wrote in a blog post in March that patrons are not leaving the platform, and then at the same time they apparently reported that they were in fact leaving. Which is it?

taneq 7y ago
In March most of the world went from "everything's fine here, situation normal" to shooting out the radio and diving head first into a trash compactor. That might have affected a few things.
- dajohnson89 7y ago
  What does shooting out the radio mean?
  - rabidrat 7y ago
    It's a reference to a scene from Star Wars: https://www.youtube.com/watch?v=4FSV8w1UoZA https://www.youtube.com/watch?v=4FSV8w1UoZA
x0x0 7y ago
I kind of assumed people were aware of events since 26 March. For instance, on 26 March, 3.3m weekly unemployment reports was by far the largest ever reported. I also suspect some of that type of reporting may lag, and if a ceo or finance team orders it to be shown daily, may be surprised at what a week or two of reporting lag does in the time of the aforementioned events.