Patreon, Substack, and other “passion economy” startups are laying off staff and abandoning fundraising plans; Dealroom: investment fell 75% to $801M in 2022
Once high-flying start-ups that serve online creators and influencers have been forced into a painful retrenchment … Tweets: @pkedrosky Tweets: Paul Kedrosky / @pkedrosky : Good FT piece today on the stuttering “passion economy”, with companies like Patreon and Substack getting hit by declining consumer spending and people trimming subs, and the companies trying to compensate with larger cuts. #xp https://www.ft.com/... https://twitter.com/...