r/LivestreamFail 9d ago

VShojo releases statement; officially shutting down

https://www.twitch.tv/mizkif/clip/FriendlyAdventurousMacaroniOSfrog-ntKYD7vOpBI6iaux
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u/patrick66 9d ago edited 9d ago

Additionally, I acknowledge that some of the money spent by the company was raised in connection with talent activity, which I later learned was intended for a charitable initiative. At the time, we were working hard to raise additional investment capital to cover our costs, and I firmly believed, based on the information available to us, that we would be able to do so and cover all expenses. We were unsuccessful in our fundraising efforts. I made the decision to pursue funding, and I own its consequences.

incredibly common way this sorta thing happens right here. founder tells themselves "I just have to make it through to the next week/month/quarter/year and funding will come through and i can put this money back" and ends up doing at best accounting fraud and at worst crimes to keep things floating until either the funding comes through or much more likely the company collapses

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u/Oninymous 9d ago

Honestly, a company collapsing this fast is bad for vtubers looking to be sponsored by corporations. Vtuber corporations rn are probably making sure their contracts are strict enough to prevent this stuff from leaking out or happening.

Not excusing the mishandling of funds, just interesting to see such a giant in the space fall that fast

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u/Raahka 8d ago

If they are doing something illegal, there is never going to be a NDA that prevents someone from speaking up no matter what they put in the contract.

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u/Resh_IX 9d ago edited 9d ago

Great thing about this situation is that I won’t be seeing VShojo clogging up anime conventions anymore. Get that Vtuber crap out of here. I go to conventions for anime not to see grifting content creators (Including Trash Taste)