Patreon might destroy itself while trying to figure out how to pay artists online

Internet strangers and supporters pay $1,080 a month to Stuart Schuffman, better known as his online persona Broke-Ass Stuart, to write things like “8 Ways to Get High for Hannukah.”

Yet, somehow, he’s not thrilled with it.

“The system we’ve set up is broken,” Schuffman said.

Schuffman is one of thousands of other creative people that use Patreon, a donation platform that has surged in popularity in recent years. Think Kickstarter but with a focus on the people behind the projects and tailored to providing a sustained monthly income rather than a one-off influx of cash.

The once-niche artist-focused platform was thrust into the spotlight recently when it raised $60 million in venture capital and changed its fee structure. Then all hell broke loose.  Read more…

More about Startups, Crowdfunding, Venture Funding, Creators, and Artists