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The author starts the article with "take Patreon's lunch money". What lunch? The one VCs fed them? Is Patreon even profitable?

Applejinx 3y ago
See, this is what immediately turned me off the article. I don't WANT a payment system that is about beating up other payment systems in the schoolyard and making them cry. I want a payment system that takes money on my behalf and then pays me with it. I'll put up with a lot of inefficiency if it's boring and predictable. You're gonna have a heck of a time prying me away from Patreon in favor of your new lunch-money taking payment system with crypto and hookers. If you're leading with 'take their lunch money', I don't trust you. I don't trust Jack Conte THAT much, but it's sure a lot more than you.
- chiefalchemist 3y ago
  To your point, it's foolish to pick a fight with a grizzly bear (i.e., Patroen). It's smarter to ask: where is there a market not being fulfilled? Then if that goes well enough eventually *maybe* you look to square off with the grizz. But to run into the sprawling plenty of room forest intentionally looking for a gizzly? That's foolish.
dangus 3y ago
Exactly. The author also dumped on Patreon’s incredibly low processing fee. Who is going to compete with 5% plus payment processing? And they dumped how this processing fee is unsustainable and that the community was mad about changing it. What business is going to disrupt margins like that? That’s like saying “I’m going to sell stuff cheaper than Costco.” Good luck with that!
- baobabKoodaa 3y ago
  FYI Patreon does not offer the 5% deal to new creators anymore. Now it's 8%.
  - dangus 3y ago
    Right, and that is still low.
    - baobabKoodaa 3y ago
      Sure.
- carlossouza 3y ago
  Exactly. Race to the bottom
bakugo 3y ago
Why wouldn't it be profitable? All they really do is take money from people, give them to other people, and take a cut of it. I was under the impression that Patreon is struggling because their profits aren't enough to balance out the 9 digits of VC money they greedily took in, not because there's no profits.
- foobiekr 3y ago
  A lot of tech companies are unprofitable due to headcount.

Applejinx 3y ago

See, this is what immediately turned me off the article. I don't WANT a payment system that is about beating up other payment systems in the schoolyard and making them cry. I want a payment system that takes money on my behalf and then pays me with it. I'll put up with a lot of inefficiency if it's boring and predictable. You're gonna have a heck of a time prying me away from Patreon in favor of your new lunch-money taking payment system with crypto and hookers. If you're leading with 'take their lunch money', I don't trust you. I don't trust Jack Conte THAT much, but it's sure a lot more than you.

chiefalchemist 3y ago
To your point, it's foolish to pick a fight with a grizzly bear (i.e., Patroen). It's smarter to ask: where is there a market not being fulfilled? Then if that goes well enough eventually *maybe* you look to square off with the grizz. But to run into the sprawling plenty of room forest intentionally looking for a gizzly? That's foolish.

dangus 3y ago

Exactly. The author also dumped on Patreon’s incredibly low processing fee. Who is going to compete with 5% plus payment processing? And they dumped how this processing fee is unsustainable and that the community was mad about changing it. What business is going to disrupt margins like that? That’s like saying “I’m going to sell stuff cheaper than Costco.” Good luck with that!

baobabKoodaa 3y ago
FYI Patreon does not offer the 5% deal to new creators anymore. Now it's 8%.
- dangus 3y ago
  Right, and that is still low.
  - baobabKoodaa 3y ago
    Sure.
carlossouza 3y ago
Exactly. Race to the bottom

bakugo 3y ago

Why wouldn't it be profitable? All they really do is take money from people, give them to other people, and take a cut of it. I was under the impression that Patreon is struggling because their profits aren't enough to balance out the 9 digits of VC money they greedily took in, not because there's no profits.

foobiekr 3y ago
A lot of tech companies are unprofitable due to headcount.