Earlier quoted context omitted.
IPOs are the alternative form of exit and they certainly don't.
Where does the drive for an "exit" come from? It's a jargon term not used in the entrepreneurial side of most other industries.
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Epic Games acquires Bandcamp
211–220 of 485 posts
Re: Epic Games acquires Bandcamp
#212It's difficult to understand how an indie focused site will sell to a big generic company. They obviously know that Epic is going to have different culture even if they say the contrary. So probably making money or exit was the priority here.
Re: Epic Games acquires Bandcamp
#213I can't help but think we never solve "how to pay musicians" until we first jettison the absurdities, specifically "paying for downloads."
Start with the assumption; mp3s are free to create and copy, and there is no point in pretending that this isn't simply how it is, and should be considered a universally good thing. Even streaming a song a second time is stupid.
Now that we've accepted this, how can we collectively figure out some way for me to send money to my favorite artists so they keep doing their thing?
(And I say this as someone who does fairly regularly pay for digital downloads.)
Re: Epic Games acquires Bandcamp
#214Earlier quoted context omitted.
I assume it’s because Epic presented a ton of cash and a small but profitable company found it attractive. I can’t imagine anyone wanting to work for or be part of Epic, so that’s my assumption of gobs of cash.
But what's in it for Epic?
Perhaps Epic originally wanted to purchase itch.io but couldn't settle on a deal so they went to the O.G. instead?
Re: Epic Games acquires Bandcamp
#215Earlier quoted context omitted.
And yet so many modern day startups have no viable exit strategy beyond acquisition- what does that say about the state of the industry, and of founders' commitments towards building a sustainable product?
The very term "exit strategy" answers your own question: if you're committed to building a sustainable product, with long-term sustainable profits, caring for your employees and your customers, without any explicit plans to sell off your company to random megacorp, where it will be scrapped for parts, then you're a dumb loser trying to build a lifestyle business and you deserve to be shamed out of Silicon Valley! How…
I completely agree, but this isn't just a VC problem. The entire current economic system incentivises this.
Re: Epic Games acquires Bandcamp
#216Earlier quoted context omitted.
Just wait to see what happens when Gabe of Valve decides to retire and needs to diversify his holdings.
You think the guy who bought a racing team for funsies (and for charity!), the guy with an extensive forge setup in his palatial basement, needs more money? I know it's hip to be cynical and all, but seriously. Even if he were so motivated by money, could anyone even put together a payout that'd be better than "continue to watch the Steam Store print money, beholden to no one because Valve is a privately-held company…
How many people expected Gates to do something like the Gates Foundation?
Re: Epic Games acquires Bandcamp
#217This makes me happy for the Bandcamp employees who will hopefully get a good payout for their hard work but sad for what Bandcamp will become in the future under Epic.
I’ve really enjoying going into their record store / small intimate venu in Oakland, CA.
Re: Epic Games acquires Bandcamp
#218Earlier quoted context omitted.
I look forward to not being able to download my purchases :(
That already happens with Bandcamp. If the artist removes a song/album, you have no way of downloading it again even if you've purchased it. You only get a license to download the music while it's still available on the website. I've lost a few tracks/albums this way, thankfully I had local copies already.
Although, oddly, I do have one album which is no longer available for streaming in the web client, but remains intact in the Android app.
Re: Epic Games acquires Bandcamp
#219Earlier quoted context omitted.
And yet so many modern day startups have no viable exit strategy beyond acquisition- what does that say about the state of the industry, and of founders' commitments towards building a sustainable product?
The very term "exit strategy" answers your own question: if you're committed to building a sustainable product, with long-term sustainable profits, caring for your employees and your customers, without any explicit plans to sell off your company to random megacorp, where it will be scrapped for parts, then you're a dumb loser trying to build a lifestyle business and you deserve to be shamed out of Silicon Valley! How…
HN is a lot more jaded towards startups and founders’ games these days. Back in late 2019 there was this thread about a Garry Tan video where the tone of the discussion was fiercely against working for startups, saying it was better to join FAANG or start your own company instead:
Re: Epic Games acquires Bandcamp
#220Does anyone know Bandcamps funding situation? Did they need an exit like this? Or can people not run businesses long term for profit anymore?? Such a shame. If you think Epic will just leave them alone you just need to read the corporate speak in the first paragraph of the announcement:
“I’m excited to announce that Bandcamp is joining Epic Games, who you may know as the makers of Fortnite and Unreal Engine, and _champions for a fair and open Internet._”