Evan Williams wrote his own letter declaring that Medium has to fire 50 percent of team, and ‘re-position’, which only ever means one thing – ‘we got it wrong, we’ve lost money, we now want to try something else.
This investor figured out that wasn’t a good enough letter to inspire confidence, and so he wrote his own.
Bottom line (according to him): “Said more simply: Medium found itself straying down the path of least resistance, where legacy models reside.”
We love Medium. We think Medium needs to survive. What it represents as a platform, as a curator, as a gatekeeper is deeply significant for the future.
So let’s just go along with this story for the gods.