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Soundcloud may be forced to close due to $44m losses! (pg. 5)
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| SystematicX1 |
| quote: | Originally posted by Mr.Mystery
What the hell did they need that many employees for to begin with? |
It was their London office |
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| evo8 |
| didnt renew my Pro account this year, using hearthis instead |
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| tehlord |
| quote: | Originally posted by Mr.Mystery
What the hell did they need that many employees for to begin with? |
Entitled frat boys playing CEO with other peoples money.
Basically. |
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| djnitride |
Soundclouds business strategy: piss of core user base which pays us money, become a Spotify "me too"
Hows that working out for you lads :stongue: |
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| DJ RANN |
It's so amazing how many of these tech companies go this way. They just don't seem to understand that VC capital isn't earned money. It's a bet on someone else putting even more money in, but the frat boys think they're tech genii and start spending like they're Zuckerberg.
Why does soundcloud need more than one office and a bunch of server rooms, let alone 176 employees in the London office?
I think they're done for long term.
In other related news:
There's been this odd story about Kanye West needing to sell his house to buy a new one that's going to need tons of renovation.
Apparently, it's a bull cover story as Jay-Z is going to sue Kanye for pulling out of Tidal, and the contract clearly states that the penalty for doing is $40m, which Kanye doesn't have, and Kim can't cover.
Tidal is losing so much right now that Jay-z was forced to do the deal with live nation for $200m (although like the David Beckham contract that was "worth $250m" it's only a fraction as that would be if all gigs, targets and bonuses are met and like with beckham it's physically impossible to do all of it.
Also, Jay-Z and Beyonce aren't half as wealthy as they want to portray; They're trying to buy the most expensive house in the USA but they're lowballing (as they've done countless times before on super expensive properties and got refused) but they want the story to be that they paid full price. They probably won't get this one but they need it to save face.
For all these reasons, it means he's going to ream Kanye for every penny he can get, but the problem is that if it goes to court, the financials of Tidal are going to public knowledge which Tidal can't afford.
Going to get messy..... |
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| SystematicX1 |
lol quite a few of us here headed to hearthis when this crap started up.
I highly suggest it! |
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| djshire |
how do you get tracks if there's no download option? I have some old tracks on there that I no longer have after an HD death, and I'd like to get them. |
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| djnitride |
| quote: | Originally posted by djshire
how do you get tracks if there's no download option? I have some old tracks on there that I no longer have after an HD death, and I'd like to get them. |
You could import all of them with hearthis.at, has an import option on the top right bar of the site.
Another thing is you could edit the tracks and allow download, and do it one by one. |
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| Mr.Mystery |
This is getting kind of bizarre now. Apparently Chance the Rapper has stepped in to save SC:
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| DJ RANN |
What (to quote a senior SC employee) a ing show.
I assumed things like this were going on (lavish catered lunches, free apple laptops to all employees, swag bags etc) and it never ceases to amazon me that they aren't even the 500th tech company to make this mistake. It's not real until you profit and loss survives by itself.
As for chance the rapper, good luck to him; their burn rate will break him inside of 6 months. It would be one thing if it was Dr. Dre as he has VC money but Chance doesn;t have the pockets required.
it's also an exit strategy now for SC however they look at it - I know a few people from Ares capital and those guys are smart. They'll get their $70m back but the problem is that SC is a little bit of a Bear Stearns now. Why buy it now while it's still trading, when you can pick the bones once it dies?
SC's main problem is that much smaller companies like heartthis are treating users much better, and the import option is genius.
It's a real shame that SC ed it up so badly. They were on to a good thing and like so many others just completely went off the rails.
I have a friend right now involved in a music tech startup that could go global (very smart idea) but they started talking about what it's going to be like flying private everywhere and having to live in a gated community etc. I had to firmly remind them that investment is a loan until they make 5 times that amount back. It's staggering how money goes to some people's heads. |
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| djshire |
| quote: | Originally posted by djnitride
You could import all of them with hearthis.at, has an import option on the top right bar of the site.
Another thing is you could edit the tracks and allow download, and do it one by one. |
I'll just edit all the tracks to be downloadable, thanks for the help. |
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