https://www.youtube.com/watch?v=uRaB6xtAPj8


Always thought of them as a buyout play operating at a loss, partially funding the artists with nickels & dimes from patrons, but manely funding them with venture capital, then selling the company for far more than they took in. Gootube needs a lot more than 10% to stay in business. They have to police all the members for fraud, advertise, fight lawsuits. Most of the money goes to lawyers.


After the buyout, the investors would walk away with billions the artists never knew they were worth & the patrons never knew they donated. When interest rates increased slightly, the buyout options shrank & they needed another gag.


In total, it was a good deal for artists, but a raw deal for the patrons & anyone paying rent near the patreon office.  The artists were worth a lot more in the minds of the equity holding investors than they would ever get, but they still got more than fair market.  After the buyout of course, real estate near the office would take another leap & everyone would wind up poorer than they started.


Comments

Post a Comment

Popular posts from this blog

Image
 https://www.cnn.com/2023/11/09/media/jezebel-go-media-spanfeller-suspend-publication/index.html   Jezebel shuts down, lays off staff in ‘excruciating’ decision, parent company says    No big deal for a new media company to fold, but this one was unique for dishing out the kool aid.  Lions remember the rage against anyone over 30 who dished out reality.   -------------------------------------------------------------------------------------------------------------------------  https://www.summerhillhomes.com/san-ramon/city-village/ Anyways, lions had another FOMO moment, thinking about the conversion of the office park into housing.  For 20 years, houses were built in much less ideal locations because this land was taken.  Their prices were propped up by the belief that the office park would never be an option. Lions long viewed the neighborhoods bordering the office park as the primest locations.  New construction is always the cheapest time in a house's lifetime.  The houses being
Read more
Image
 Lion acquaintances seem to have a much shorter lifespan than the published averages.  55-65 seems to be the norm.  Maybe life expectancy is a camel like inflation.  Die by 60 or make it through the great filter & hit 100.   ---------------------------------------------------- Ongoing struggles with Xfinity/Comca$t convinced lions they're now better off renting the XFI gateway than attempting to use a 3rd party modem.  It wasn't this way in 2016 when activating a 3rd party modem was straightforward.  That modem lasted until 2022 but seemed to not survive the migration to a monopoly.  In 2016, AT&T was a viable alternative.  By 2022, Commie was the only option. 3rd party modems are no longer supported via online activation.  It's not clear why the app provides an option to activate a 3rd party modem that merely redirects to the xfi gateway activation & fails when it tries to configure the gateway.  The modem goes into walled garden mode where you get DHCP, DNS, b
Read more
Image
 Finally watched Creepshow, 40 years after rereading the comic book many times by flashlight. The highlight visually might have been the now vintage Apple II which was cutting edge in those days. Nothing utterly terrifying.  Better writing than anything current.  Only slightly deviates from the comic book. The highlight emotionally might have been when after feeding his wife to the warewolf, the now liberated man sits down to doing anything he wants.  The big deviation was the warewolf escaping in the end, while the comic book kept him trapped underwater. The zombies might have been easier on the eyes than the single women. The original comic book is now on archive.org with a 1 hour free trial.  With a 4k monitor, all you need to do is screencap it while turning the pages.  The raw images are very high res but a 4k screencap is still higher than any animal would actually read it in. Helas, the center page crease is cropped off. There's enough in a 2850x1890 screen cap to remember w
Read more