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Oh I think I missed that issue... don't follow the real estate subplot but yeah makes sense that Zillow is a real-estate media company the way Patreon is a... something media company.
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Maybe a cultural-aggregation theory. Rent-a-mob. A crowd which owns its creators is basically a stable echo chamber of mutual reinforcement. It's a thing worth owning, but there's a cultural cost to extracting a rent from it. It's a pump to extract trust from commons.
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I think the "leverage" is amortizing the transaction cost from donating a small amount to many creators. I agree though, Patreon should be more like Stripe, i.e. something you embed into your existing site rather than a standalone product. (Doesn't solve censorship issue though)
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It's another way of saying it's a content curator, not a tech platform. Therefore, undifferentiated & difficult to defend when curation derails. Even if they were to embrace their editorial nature, aggregation is the least manageable way to achieve it.
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How not to run a "platform" As @MLChristiansen's video sharply demonstrates, @Patreon is an editorial entity, not a technology or payments service, and must be treated as such. Essential reading for all creators: 'Surviving Platform Risk' ideafaktory.com/platform-risk-
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