Sup you beautiful bastards.

Don't be having a fantastic Wednesday.

Welcome back to the Philip DeFranco show,

and let's just jump into it.

And the first thing we're going to talk about today

before we dive into the true crazy

is the massive business and industry news around Defy Media.

Defy Media, the owners of large YouTube channels like Smosh,

Clever, A Me, among others.

They have now announced that the entire company is shutting down.

Initial reports from yesterday said that employees that defies main office in Beverly Hills.

They received an email that same day notifying them that the office would be shutting its doors

down by January 2nd and that all 80 employees would be laid off as a result.

And at first it was assumed that only Beverly Hills was closing,

which had nearly all the staff, though, including President Keith Richmond.

But it seems that their corporate office in New York

where CEO Matthew Diamond Works is also shutting down.

And Defe also released a statement saying, regretfully Defy Media has ceased operations today.

We are extremely proud of what we accomplished here at Defy,

and in particular want to thank all the employees who worked here.

They then go on to praise their team, credit them with building up over 75 million

YouTube subscribers, 120 million social media followers. But then adding, unfortunately,

...