State of Pando Update: Thank You!
Two weeks ago, we published our annual "State of Pando" update.
In that update we announced we were tweaking the way we publish new Pando stories. Rather than one new update at 9am daily, we'd publish on a less rigid timeline across all our various platforms: Sometimes several big stories a day, sometimes just one or two shorter updates. This, we hoped, would make it easier for us to properly cover breaking, rolling scandals like the recent ones involving sexual harrasment and assault in the VC industry.
We also announced we were dropping our paywall on all stories involving harassment, discrimination, gender and other critically important issues. Those stories deserve to be read, and read widely, even by those who can't justify a paid Pando subscription.
The second announcement - dropping the paywall on our biggest stories - was the scariest, at least from a business point of view. Without our monthly and annual subscribers (and Pando Patrons) there would be no Pando. There would be no stories to publish, locked or unlocked. We had no idea if, on declaring that a subscription was no longer mandatory to read big stories, we would suffer death by a thousand cancelled subscriptions.
In fact, the opposite happened. The two days immediately following our announcement were our best new subscriber days ever, by a large margin. Not only that but we were flooded with notes from existing subscribers asking to increase (in some cases significantly so) their monthly or annual rebill.
It's thanks to the generosity of all those subscribers - new and existing - that we're now in an even stronger position to do our job covering the SV swamp (and some of the nicer parts of the tech indsutry too). It also gives us hope - particularly reading some of the emails from VCs offering to pay significantly more for their subscriptions - that there's a strong, and growing cohort even amongst the Valley elites who want to support independent journalism, even when it often shines a spotlight on them.
This week has been relatively quiet, scandal-wise -- but (depressing spoiler alert) it's likely just the calm before the storm. Before that storm hits, this seemed like a good opportunity to say thank you to all of our readers for helping to ensure we'll still be here to cover it.