A couple weeks ago CNBC ran a story about Patreon, where their CEO, JetConti, said that

his company's generous business model wasn't sustainable and they'd find other ways to make money.

At the time, I didn't think too much of it because I and many other people have left the platform.

However, at the beginning of this month, I started receiving messages from people complaining

about the site being down and how they were concerned they weren't going to get their money.

As it turns out, Patreon had been down and up and up and down and they kept saying they'd

solve the problem but they didn't know what it was because it would come back later.

They eventually had to issue an advance to many people sending accounts negative as they tried

to figure out why credit cards were processing slowly or weren't processing at all.

Some people told me that patrons had fallen off their accounts because cards got declined and when

they reached out to them, they had no idea what was going on. That, in combination with the

story, kind of got me worried. It hasn't been a good couple of months for Patreon. Some of their

biggest creators have left an anger. I left, for instance, and I'm glad I did because you can see

what's happening. Today, let's take a look at what's going on with Patreon. We'll have a more

candid conversation about the state of Patrex controversies and some other good news that I

mentioned before. Subscribe, stars, back, and functioning. So we'll talk about that too.

But before we get started, make sure you're following me on mines at mines.com, a slash Timcast.

Because Subverse is up. We're going to be producing daily content and we're setting up a distributed

newsroom where we need you to get involved, join the chatroom, and help us build this out.

So mines.com slash Timcast. And if you want to support my work, just make sure to share this

video and help spread the message. Let's take a look at the story first from January 23rd. Patreon

CEO says the company's generous business model is not sustainable as it sees rapid growth.

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