Cheers!
Also holy moly they're losing money and now contextually we know they fired their sales guy. What a disaster. I'm not financial analyst but I sincerely wonder how they Ended Q1 with $222,117.95 on hand, lost $13,678.79 in Q2 (which would put them at
$208,439.16) but still somehow arrived a different number for "end of Q2" - they claim
$182,873.78 or in laymen's terms a fucking
Twenty Five Thousand Dollar Discrepancy. You should probably do a sanity check on this stuff if you're trying to be transparent because it sure looks like "oopsie whoopsie we lost 25k somewhere".
The sales team also looks like they drove sponsorship revenue hard - going from $5500/month in December to $23,200/month by June, lending some credence to the theory that the sales team was actually good and Nick firing one of them was pants on head retarded.
Sebastian allegedly dropped the salary info in the SW discord and it's allegedly as follows.
They said this was "out of date" and my best guess is this was what they were making at Escapist. If it's out of date - I'd have to guess it's the Bi Weekly model and Yahtz was taking $325,000 and Nick $209,092 - which means that the Warchest couldn't pay Yahtz's salary for more than a few months. If we assume (for some reason, idk) they get paid monthly then that moves Yahtz to taking $150,000, which seems insanely low for his draw. That would also put the lower paid folks at $45k/year (before taxes) which sounds bonkers - like literally quit
today and be an ASM at Starbucks.
Nick paying himself literally twice what nearly anyone else makes is insane given how the company is struggling. It's unclear how ownership is handled too - if they effectively split it 12/13/11 ways or if Nick/Yahtz have a "Lion's Share" but no matter what they're in some deep trouble and fast.
If that salary list is even close (and I'm sure it is, given how many low salaries are on it) they need a
minimum of $55,127
per month to stay afloat. Going by their own documentation it's actually $74,377.66 per month (Salaries / Contracters from Q2 divided by 3). They aren't going to have much time to figure this out at the current rate and any major speedbump could derail the entire operation. Despite the CEO trying to diversify their income stream - they are still
60% reliant on Patreon as a single income source. If people rally against that (or they get banned or whatever) it's lights out instantly.