laying off 80 people and this being 'only' about 17% of its workforce makes me wonder.

I would have expected the whole of Patreon to have fewer than 80 employees altogether.

patreon layoffs

@MatejLach yes, have only about 3k USD / mo of revenue per employee. But they made a bad choice to borrow 60m USD from Joshua Kushner's Thrive Capital in 2017, and ever since they have been forced to spend lots of money to support a series of stories about how they are about to multiply those investors' money tenfold.

They are one of the few California web services corps with a business model, and they threw it away in 2017.

patreon layoffs

@MatejLach this Wikipedia page gives an idea who they sold themselves to in 2017 They took two more big loans after that.

@MatejLach That number confused me as well...

Steady is a German startup with a somewhat similar business which started operating in public in 2017. According to Wikipedia they were 32 people in total last year ( ), which is closer to what I expected either company could reasonably employ.