How Patreon Became A $4 Billion Start-Up | Founder Effect
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- Опубліковано 27 бер 2022
- Jack Conte wasn’t some starving artist eking out a living when he landed on the idea for Patreon. He and his wife’s indie band called Pomplamoose was pulling in about $400K a year at its height. But after spending three months and maxing out his credit cards producing an intricate music video for the song Pedals, Jack found himself burned out, sitting alone, literally crying from exhaustion. He felt there had to be a better way for creators to get paid for their work. Today, Jack and his co-founder Sam Yam are weighing the cost-benefit of taking Patreon public.
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How Patreon Built a $4 Billion Platform To Pay Creative People | Founder Effect
He has won the hearts of creators for the past years... And he just won it again.
I hope this guy can keep succeeding because he seems actually passionate and honest about his business, his interests and it's a passion and a purpose more than just making money.
he is a fraudster, He cancels channels he does not agree with. A liberal punk.
Chapters (Powered by ChapterMe) -
00:00 - The story of Jack Conte
01:30 - Behind the scenes of the birth of patreon.
04:53 - How did you find your co-founder?
05:48 - Bootstrapping the company
07:24 - When did your content go live on Patreon?
07:33 - How Patreon works?
12:23 - Why not go public?
12:44 - How does that work with shareholders coming first over creators?
Sorry this is a bit of an old comment and I don’t know if a person even reads comments that this account receives but how does this chapterme thing work?
WOW!!! This was a fantastic interview and conversation. I love the integrity I feel from Jack. Cool connection between these founders. Would be fun to hear more from Sam too. Super Inspiring. I would love to partner with Patreon.
Loved everything about this interview
Moral of the story : Hav atleast one engineer friend in your life sothat you can make a great startup with him.
Yup, know a smart engineer friend who will build your entire platform for you without asking for money. that's probably even harder than doing the startup itself lol
Gosh, look at that passion.. I'm sold..
Love videos like this, truly inspiring
Keep these coming, they're great !
Jack is so passionate, and you can tell by the way he speaks. Love it!
Very nice video! I have a question - How do you deal with it, as a creator, when someone cancels their membership? I mean, it can be de-motivating and frustrating, if someone declines their support on your Patreon. It's not like new fans grow back just so! Or maybe they are? I think it's a constant run after new patrons and fans because people can cancel their pledge and you have to make new patrons faster than some other Patrons cancel? Or am I wrong? What are your experiences as creator? Thanks a lot for the reply!
It's incredible to see how his personal experience with the challenges of being a creator led to the creation of a platform that has revolutionized the way artists get paid for their work. Now, as they consider taking Patreon public, it's a testament to the impact and growth of their vision.
My jaw dropped when I realized Jack from Pomplamoose was such a successful tech entrepreneur!
My jaw dropped when I realized that Jack "manifest observable behavior" Conte from Pomplamoose and Patreon was a con artist and a liar.
same here. their gaga cover video was awesome
@@vecernicek2 cool, but what are you trying to communicate here? 🤣 You call him names but don't point anyone to facts they can verify - or point to anything for that matter
The question I want to know that answer to is how Pomplamoose was making $400K/year before Patreon. That's nuts.
You realise that was gross revenue right? not profit??? they have to pay for overheads like travels, flights, hotels, venue, security etc.
this is what it sounds like right before someone goes public and sells out
Lmfaoooo
Wait till these founders raise the 8% to 25% because the board said so😂
I would love to see a Hulu series on him. Love what he is doing.
I love this beautiful fringe of business: human-centric entrepreneurs. Love this!
12:05 patreon tried a couple of years ago to earn more per creator transaction but there was strong pushback...and now user growth is stalling across lots of social and other monetized digital platforms. all those other companies will be coming for patreon as they try to grow additional revenue streams (not just advertising or direct user subscription fees). it's time to go public now or go home.
SO incredibly inspiring.
wait they made 400k a yr and his credit card max was 10k? that's way more than my monthly income but i have 150k in card credit. patron was such a godsend for creatives. I saw artists go from poor to 5 figures a month in stable recurring cashflows
Great story, very inspiring.
Amazing 🔥
Patreon is so awesome and great video man :]
I hope shareholders keep listening to this man because he’s really in tune with artists and creators being an artist himself ☝️🧐
This guys is genius
two of my fav ppl in the world
Really inspirational story, fascinating enthusiasm of the founder.
But the interviewer didn't get the answer to his last question, I guess
Now do a follow up, with what happened with Vimeo.
That probably cost the users and money.
Awesome story!!
To anyone watching this...
GIVE YOUR BEST THIS WEEK FOR EVERYTHING YOU DO! 💪🔥
OMG I've been a fan of Pomplamoose for soooooo long! Never once noticed that he's the founder of Patreon wtf lol
Go Jack. ❣
This story is about becoming successful by uplifting others and bringing them success. Everybody wins. That’s what makes his business model amazing 👍
Where can I find the full interview uninterrupted?
I like this series
Jack kept it honest when others wouldn't so I'm generally happy for his success. When everyone else was trying to make money off MCN's while taking other creators hard earned money he found a way to get those influencers money on a level that the monetization and MCN's weren't.
I remember back when he made awesome covers. I still can't believe he built Patreon!
He didn't let his partner talk.
It’s HIS idea so……
Big fan of the pomplamoose!!
Patreon and gofundme should be for people who really need it, the poor. Not rich Jeff Bezos types.
The rich begging for money I just greed.
well, you should stop use amazon first, before you talk.
or else you are just a hypocrite.
oh, you still remember that dirt cheap, and fast delivery amazon product that you took advantage of right?
don't act like you got an amnesia,
you're just as Greedy and Guilty as Bezos.
you are no better than bezos
I hope they make more videos like this! This reminds me of the book The Millionaire Fastlane!
Moral of the story: damage your mental health
Good idea
4:35
He is so f....ING passionate about what he does..it is clearly not about just money for him but more about you get what you really deserve
he seems very stubborn, closed minded and idealistic, does not look like a great business partner
I don't agree with both of you
And no fullstops with this statement as well
O love your ideal and the fact you only make money if the creators make too .
Faith + Funding move mountains. (Looks at bank account...) Well, 1 outta 2 ain't bad lol.
That's a spirited man
400k/yr for the band and employees with 401k match. wow, doesnt sound like enough to do all that
That's probably their personal net income
imagine my shock when i found out that one of the havles of a music band i like was the founder of patreon
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What's the name of the music video he made?
Sam is a quiet man
The money man
I really hope they don’t go public, unless he keeps controlling interest, because it will just become another corporate greed machine, no matter what he does.
That's what a business means. Who cares if the patreon users still get paid for their content? People like you so against business owners succeeding is why the US is screwed.
username checks out
@@edenassos LMAO. who cares if the users get paid, once the corporation does well and enriches a few shareholders, that's all that matters. You have been brainwashed to think a business needs to generate profit at all costs, with the no regard to their workers or other stakeholders. Businesses can be profitable and ethical. Patreon currently is.
@@e28a Thank you.
@@politcallycorrect5816 I'm pretty sure I know how businesses work far more than your bottom feeder self will ever do since I own businesses myself. What do you do for a living again?
Jack gives me highly charismatic, everyone needs to drink my kool-aid vibe.
More founders from Stanford. Shocker.
400 F***ing million dollars raised? For this? Yes, we are in a absolute tech bubble.
Patreon will be huge nobody actually likes UA-cam it's tolerated. But most creators want out
@@jeffrejr1people are not happy about Patreon either, especially when they started booting people off for views that don’t align with theirs…
@@iamwhoiam7482 those people have Rumble where they belong
they really do be changing the title and thumbnail every couple days lol
I'm absorbed in this content. I had the pleasure of reading something similar, and I was absorbed. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Motivational, because it sounds possible. Without going through standard practices
I did not understand most of what they said. Go public? Shareholder interest? Build the most value? Written payments? ... 8 O
Bearded guy could start a church any day.
Did the first hires get in any share of company
How are they worth 5 billion? Their profit is most likely under 100 million since they started.
It's the brand and Tech Ip if they sell the company or go public, on paper they would be worth 5 billion. But still be cash poor until they sell shares.
The value is based on the potential that they have
@@minecraftmemes2413 i.e. based on some inflated multiplier that the vast majority of companies never achieve. Tech is a circlejerk for the wealthy, corporate valuations are an arbitrary metric.
@@fluxophile yes, but the ones that do are very likely to do much better than expected.
I think you are better than that Mel Tormey guy , who ever that is. : ) !
Why go public and then have to keep shareholders happy??
12:30 It's crazy how he is saying all of this but decided to ban every conservative voice on the platform because he didn't like what they had to say. And then there's that case where one of his board of directors that worked as an executive at PayPal using their connections to have PayPal restrict services to their competitors, ie SubscribeStar. Mind you, all of this happened before the making of this video. My point is if you care about your creators and design a platform for everyone to be successful, then you can't use personal and political bias to block creators on said platform.
But but but he is a Warrior! He is fighting the good fight! I’m obviously joking!
He reminds me of a Young Jeff Bezos. Obsessively focused on the customer. I believe his probability of long-term success is > 60%.
He offered Casey Neistat to get in on Patreon which I believe he declined.
🕶💪
If you are not making money as passive, then you will be trapped in 5-6 job till you retire
I just ditched Patreon. It is soooo buggy and they have absolutely NO support. They promise support answers in 24-48 hours but they NEVER answer. Their buggy software shuts down my account all the time stating I violate their terms which is a gigantic bug. I left them. There are better alternatives out there.
👏👏👏👏💜💚💜💚🙏
Isn’t this the same guy that ‘let-go’ (more like FIRED) his ‘teammates’ after Patreon made 155 million dollars? Mmmm that arbitration was a karma I guess.
Methinks he doth protest...
Patreon has made money deceiving people. Don't be a Patreon! I've been one for months. They stolen me by discounting my money without giving me the services. I had a problem to assign on my account on Russian progress. After many emails not answered by Patreon i decided to ask my bank to cancel my credit card.
Great story, but Patreon is still an awful website to this day
I don’t use it but I’m curious why you said that.
@@candyjamaican It's so unflexible. You're limited in what you can offer. After accounting for Patreon's fees, it's also much cheaper to make your own membership offer on your own website where you can do whatever you want, and integrate with things like merch and Discord.
@@candyjamaican well for one, they don’t even have their own dedicated video player LMAO. They use Vimeo. From a technical and design perspective, a horrible website - their valuation is laughable because of this. They only got big because of relationships with specific creators, but now there are beginning to be many competitors in the space.
Patreon is not a tech company. That’s all I’ll say.
@@GeorgeCollier You have just given me a idea!!!
Because of the economic crisis and the rate of unemployment, now is the best time to invest and make money 💯.....
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Seeing Alot of success stories, he's must be honest and trustworthy for people to talk this good about him.
this commentator sounds funny, talking with his nose.
While his story n personality is fantastic, with Blockchain and Fan Tokens, Patreon will be obsolete fast. Bad investment idea.
Was thinking the same thing, but same time many artist and many fans are not open to Blockchain just yet.
Artist are worried about the scam look of it being so early and fans are as well looking at it that way and are putting wall up to change in things that they don't get just yet.
Blockchain will change it all at some point just a question of when and how fast will the change happen.
Patreon annoying beggars
Crypto currency and NFTS will outsmart the banking system in the nearest future serving as a global fiat. Already making over $60,000 profit from my current investment🤑
Please sir, can you explain to me my financial status is in a bad situation
I have heard a lot about investing with Mrs wendy and how good she is, please how safe are the profits?
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Every crypto investor right now just smiling at the price of crypto as it held strong and indeed valuable enough to generating good ROI.more person are gonna become millionaires and we have crypto thanks for that
How favourable is the market now.I want to invest in cryptography?
Yeah sure favourable forex and crypto yields more profit with the favourable market rise.
I had interest in investing in Forex and crypto but I was discouraged by friends and family, was being ignorant thought.
Same here it's four months now I started investing with Mrs LAUREN SIMMONS and it's been a good experience.
I've never heard or seen any of her clients complain of lost....I think she's just too lucrative and perfect for this job.
Ugh. There’s basically geomonopolies on tech. Like there is no such thing as entrepreneurs startups or even founders. There just this global ledger and like a few select people get to amass gigantic mass of wealth while plummeting whole populations of people. Patreon doesn’t really know art it’s just some quirky white dudes way of saying I say what art and value of art is. Literally eroding humanity just bc he had a special button on his phone. Like what is this dude accomplishing. Why isn’t there critical analysis. News.
Let's all never forget how this guy fired his entire product team and made a video about how it made HIM cry to do it while he'd just raised 150M ua-cam.com/video/WScXi8QyEWY/v-deo.html
okay? so he fired some people, big whoop. that's lfe.
@@theendurance Firing your entire product team while you have the money to not do it and then making a video where he semi-brags about it says a lot of about the man. We love to idolise these entrepreneurs, that's why I wrote what I wrote. If you think there's nothing problematic with that, go on. I wrote what I wrote.
@@MJ-py7dm Yeah you sound like the type of person who likes to criticize things from the outside view with rough detail and justification. Regardless of what happened, this guy just happens to be open about it, but if you saw what happens at our favorite large companies, you'd probably want to brush this off.
@@thehondaboi I don't care what you think I sound like
@@MJ-py7dm asking his college roommate to sign an NDA before vetting an idea already says a lot about the guy. Their product did good deed for creator for sure though.
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