Patreon will now give creators cash advances on their subscription money
Cash advances hit the digital age.
www.theverge.com
It's a payday loanPatreon, the site creators love because it helps them make money off their work, has started a program called Patreon Capital, which grants micro-loans to creators. It's essentially a cash advance: you get money now in exchange for some of your future earnings plus a small premium. It's different from Patreon's usual business — which is enabling direct subscriptions to people whose work you like, then taking a cut off the top — but it will diversify the company's revenue, which should make Patreon a more sustainable business.
Silicon Valley getting into finance is fucking scary