Full post from Jack Conte's Instagram post: "Hi everyone - I have some sad news to share: today, Patreon is doing a layoff of about 80 employees, about 17% of

Full post from Jack Conte's Instagram post: "Hi everyone - I have some sad news to share: today, Patreon is doing a layoff of about 80 employees, about 17% of our team. This was ultimately my decision, so I wanted you all to hear directly from me about the reasoning. Before I do, I want to say two things: first, today will be painful for many people, and I am deeply sorry to the incredible teammates who will be leaving Patreon - they are good, kind, creator-first, exceptionally talented, and smart people. And second, I remember how nerve-racking it was when I was a full time creator - before starting Patreon - to watch companies that I depended on go through moments like this. So for those of you who rely on Patreon for your business and communities: I want to assure you that the company is making this move precisely for that reason - so we can continue to be a rock for your business. As the world has recovered from COVID lockdowns and entered a broader economic slowdown, it has become clear that the original plan we built doe he year, to support outsized growth through the pandemic, is no longer the right plan for the company. I take full responsibility for choosing that original path forward, and for the resulting changes today, which will be so difficult for our team. It's important to me that we continue to deliver for our creators and patrons with new features and products like native video, new content creation and organization tools, a wold-class mobile experience, and new ways for creators to grow their membership and strengthen their communities. To ensure that we make progress on that roadmap, we are increasing our investment in product, engineering, and design, which means decreasing our spend on other ares of the company. Ad difficult as this is fo our team, I know this is the right thing to do for Patreon, because it ensures that the company maintains a position of strength, even through an economic downturn, while continuing to deliver for our creators. If you want to read more about this decision, I just published the internal note I sent to our team this morning, and it's linked in my bio. I'm going to stop posting here for a while to be 100% present internally for our teammates at the company. But I promise to come back in a bit - I will see you all soon. - Jack"