SoundCloud Lays Off 40% of Staff
After 10 years and raising well over $200 million, SoundCloud has failed to build a sustainable business off “the YouTube of music.” Trimming the fat hasn’t necessarily made it fit. If SoundCloud wants to survive, it may need to accept that it should sell to some more established company that could do better managing and monetizing it. YouTube grew into a content juggernaut, but it might never have made it that far without Google’s help. It would need to find as supportive a steward.
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The fate of the world’s biggest collection of bedroom remixes, garage recordings, living room podcasts, basement DJ sets and all other manner of home-made sound is at stake. The death of SoundCloud would be a sad blow to the independent musicians who are scraping by as it is. And the sale to an exploitative corporation that sees music as at best a side hustle and at worst a loss leader could ruin this canvas for sonic creation.
Update (2017-07-20): See also: Marco Arment.
