Thread regarding Napster Inc. layoffs

Bleeding out

It was shortly after the MelodyVR acquisition which ended up being some kind of shady deal where they did not disclose some debts and the combined company got into a financial bind. They let pretty much all of the MelodyVR people go, then started methodically amputating teams, starting with HR and Accounting, then the axe swung around to the Engineering org. By the end of 2023, they had laid off 60% of the company, focusing on long-tenured employees (read: highest comp) and contractors. Others have fled like rats from a sinking ship. There's no-one left who knows enough about the technology to fix the service when it inevitably breaks in a bad way, but that's okay: the CTO thinks he knows everything and can run it by himself.

The streaming service subscriber numbers have dwindled year over year and are down to the point now where I doubt the business is sustainable for much longer. The current leadership has high hopes that their foray into web3 and superfan experiences will save the brand, but I don't see how that is possible with a hobbled streaming service.

What was once an iconic brand with tons of potential is slowly rotting on the vine, and will soon be exhausting the last of her 9 lives.

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