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Equity

OnlyFans' policy change is a tale as old as the internet

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2372 Ratings

🗓️ 25 August 2021

⏱️ 24 minutes

🧾️ Download transcript

Summary

For our Wednesday show this week, Natasha and Alex and Danny had colleague Amanda Silberling on the show to help us parse through OnlyFans' precedent-setting move to ban sexually-explicit content on its service. The decision was a bolt from the blue for many of its creators, a great portion of whom created and monetized adult videos and images through the subscription service. It also stirred up a ton of debate around fintech, crypto, venture capital, and the morality of decision-makers. We put all the facts in context for you, hitting the following points: OnlyFans' recently leaked financials. Of course, the company's historical, and projected revenues are now dated thanks to the platform's planned content changes, but all the same the numbers help put into context just how much money OnlyFans' adult creators were earning on its platform. The leaked financials were part of a pitch deck that the company was using on its plight to raise more capital - an endeavor that has apparently been challenging for the startup. This tension made us think about the role that venture capital plays in funding vice startups, and why a tiny clause may stop many from getting into the game. Let's just say, the money behind the money has a way of having weight. And finally, we wondered what might be ahead for adult-content creators. Per Silberling, the world of adult content has ever been in flux, with creators and other sex workers moving from platform to platform as corporate policies, and national laws evolved. To see OnlyFans wind up where Patreon and Tumblr previously tread is not a complete surprise. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey everybody this is Alex I have Danny here a little announcement before we dig into the episode you see we sat down with another tech

0:07.3

around expert dig into all things onlyfans the ban on explicit content and what was coming down the pike and how to think about the market and then about an hour before the podcast was supposed to go live.

0:18.3

Danny, what happened?

0:19.4

Well, Alex, after a week of huge concerns for a lot of creators

0:23.0

only fans announced a tweet this morning that they were actually

0:25.2

going to undo their ban on pornography on the platform

0:28.5

saying that they had found a way to sort of secure the payment rails

0:32.4

for the site.

0:33.6

What that actually means, I think, is an open question.

0:35.6

Yeah, so only fans is going to be fine.

0:38.3

And the entire profile from the last couple of days somehow is gone.

0:41.7

So enjoy the episode. If you want to know more context about what

0:44.8

did happen and what the market for adult content might be like from a tech

0:47.8

perspective and financial perspective we have it all but it would be strange to

0:51.4

not point out that the news kind of undercut our show.

0:53.6

So enjoy everybody.

0:54.6

Thanks. Hello and welcome back to Equity, Tech Runches, Venture Capital, Focus, Podcast,

1:08.5

where we unpack the numbers behind the headlines.

1:10.5

My name is Alex and this is our Wednesday show we are going to be

1:13.6

digging into all things only fans and there is quite a lot to talk about

1:18.2

happily though we have the whole crew here I had Natasha Moscarenis

1:21.2

Natasha one of our early stage reporters,

...

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