Nadeshot responds to backlash over 100 Thieves layoffs: \u201cWill regret for the rest of my life\u201d YouTube: 100 Thieves Cast100 Thieves CEO and founder Matthew \u2018Nadeshot\u2019 Haag has responded to the backlash he and the company have faced after a recent wave of layoffs, with former employees speaking out against issues within the organization and questioning a shifting focus towards other 100 Thieves-owned businesses, such as Juvee and Higround. 100 Thieves was founded in 2017 and almost instantly became one of the most recognizable brands in esports. In addition to an LCS team that went to Worlds in its first year, 100 Thieves also quickly found success in other games, such as Fortnite and Call of Duty. They\u2019re now competing with, and often usurping, brands that have been in the space for far longer, through a mixture of their esports success, their content arm, and other businesses, like drinks company Juvee and hardware creators Higround. In January, however, 100T announced a round of layoffs affecting a number of staff members, including Chief Revenue Officer Matty Lee and a number of editing and VFX staff. Addressing criticism of launching Juvee In a podcast episode several weeks later, Nadeshot opened up about the report that came out from Digiday in the aftermath of the layoffs, explaining how he disliked having to take that course of action and why criticism over the creation of Juvee, for example, is not all correct. \u201cThe toughest part about 100 Thieves is balancing all the things that we\u2019re doing,\u201d he admitted. \u201cThis article came out a couple of weeks ago, a lot of people are questioning, even former employees like, \u2018Why the f**k did you guys start Juvee? That\u2019s stupid.\u2019 \u201cWhen we first started raising money with 100 Thieves, and you\u2019re trying to raise capital to keep your business alive, the only thing investors at that time were asking about was\u2026 \u2018Are you doubling revenue year-over-year? How much money are you making? How are we going to grow that? How are we going to be a billion-dollar business one day?\u2019 \u201cEsports as a whole hasn\u2019t been monetized to the level a lot of outside investors expected. But 100 Thieves, as a brand, always viewed it as, \u2018This can push everything that we want to do forward.\u2019 \u201cI know it\u2019s a super competitive market, but we have this road in the gaming community, where we know people are going to try it, so let\u2019s build a brand that doesn\u2019t have any ties to the gaming community and do something bigger than what we do with Higround, that is just endemically gaming and esports.\u201d Timestamp 1:06:54 Nadeshot reveals regret over layoffs That wasn\u2019t all, though, as Nadeshot went on to discuss how bad he felt about the layoffs and what went down, including how the global health crisis affected brands wanting to work with 100 Thieves and their ability to bring in revenue. He said: \u201cBecause of the tough decisions that we made, which I\u2019ll have regret for the rest of my life, and I\u2019m not saying that to have you think of me any better, we had to make tough decisions for the betterment of the company and the duty that we have to ourselves, to our board and investors who put money into this. \u201cThe company\u2019s in a great place. We set expectations, we had the hard conversations, and we made changes, and I\u2019ve never been more excited for the future of 100 Thieves, that\u2019s God\u2019s honest truth.\u201d He went on to add that he\u2019d \u201crather be buried six feet under than do it again,\u201d but clarified again that he knows full well his situation is nowhere near as bad as that of the people who have lost their jobs. As well as Juvee and Higround, 100 Thieves are working on a video game that has not yet been named, known only as Project X.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nadeshot responds to backlash over 100 Thieves layoffs: \u201cWill regret for the rest of my life\u201d YouTube: 100 Thieves Cast100 Thieves CEO and founder Matthew \u2018Nadeshot\u2019 Haag has responded to the backlash he and the company have faced after a recent wave of layoffs, with former employees speaking out against issues within the organization and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-66806","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/66806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/comments?post=66806"}],"version-history":[{"count":0,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/66806\/revisions"}],"wp:attachment":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/media?parent=66806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/categories?post=66806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/tags?post=66806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}