Matthew Clapham
1 min readJan 14, 2025

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I don't see why anyone would pay FoM rates now. It's clearly a scam, because the money isn't going 'to the writers you love', and in any event, for clarity's sake, everyone needs to know just how fucked Medium's finances are in the worst-case scenario, which means no voluntary triple-rate subs.

Exodus of some, FoM cancelled by all - how does the bottom line look?

The CEO just said - trying rather poorly to make it sound like he was the writers' champion - that 'if there was $1.01 in the pot, he would pay writers the $1.00 and keep the $0.01 profit' (or was it the other way round? - finances don't seem to be his strong suit).

Fine. So how does it look when there's $0.01 in the pot because everyone's walked or cut their sub by 2/3?

Because given the mismanagement seen over recent months, that surely has to be the end game before long.

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Matthew Clapham
Matthew Clapham

Written by Matthew Clapham

Professional translator by day. Writer of silly and serious stuff by night. Also by day, when I get fed up of tedious translations. Founder of Iberospherical.

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