Vidme says goodbye

medium.com

Vidme, which was like YouTube with Reddit-like upvoting, is dead. And this is why:

Few advertisers are willing to negotiate direct deals with platforms that don’t have enormous scale, meaning ad-revenue rates are lower for newer platforms. In turn, there’s less overall revenue to be shared with creators, which means creators are less likely to support newer platforms for a sustained period of time.
Although we introduced direct fan patronage as an additional business model, the profit margin was insufficient to cover the high costs of storing and delivering video.

I will read literally any post about why a business failed, and this one is better than most. (Though, as an aside, it encourages future startups to issue their crypto coins as a fundraising measure, which advice feels extremely five minutes ago.)

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