Microsoft’s Phil Spencer admits he has "no regrets" about Mixer shutdown - Dexerto
Gaming

Microsoft’s Phil Spencer admits he has “no regrets” about Mixer shutdown

Published: 20/Jul/2020 3:36 Updated: 21/Jul/2020 3:20

by Brad Norton

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Despite Mixer shutting its doors just four years after it launched, Microsoft vice-president Phil Spencer has outlined why he has no regrets about the streaming platform’s shock shutdown last month.

Serving as Microsoft’s answer to YouTube Gaming and Amazon-owned Twitch, Mixer had its sights set on becoming one of the top streaming services. Mixer burst onto the scene by snatching up major personalities on exclusive deals, but the platform was shut down just four years later.

With the likes of Tyler ‘Ninja’ Blevins and Michael ‘shroud’ Grzesiek migrating over, Microsoft invested a great deal in trying to establish the platform. When things ultimately didn’t pan out, many content creators were left blindsided by the decision. Some found new homes, while others have remained up in the air.

Mixer’s hasty closure may have come as a shock, but Xbox head Phil Spencer says he has “no regrets”. Spencer, who has been with Microsoft for the past 22 years, outlined his thoughts on the shutdown in a new GamesIndustry interview.

“I don’t have regrets,” he said. “It’s obviously a disappointment when you try to grow something to the scale it needs to get to and you don’t get there. You make decisions with the best information you have at the time, you apply your best effort.”

Despite signing juggernauts of the industry to exclusive deals, numbers dropped for nearly every streamer that joined the platform. Mixer could never quite find its footing and in a “hits-driven industry,” according to Spencer, viewership is key.

Over the years, Microsoft reportedly spent tens of millions getting big-names to jump ship. These were long-term deals as Mixer was clearly a key focus for the company moving forward. As many others mocked the platform’s lower-viewership, streamers on Mixer defended the site until the very end. “Mixer has a very, very good chance to succeed,” shroud expressed in a May 23 video.

Despite its eventual closure and many streamers being caught off-guard, Spencer stands by the decision from Microsoft. “I think it’s fundamental to us that we’re not afraid of trying things that might not work,” the Xbox boss reflected.

Microsoft pushes Mixer at E3
Twitter: XboxP3
Phil Spencer (center) has been with Microsoft through many new product launches, with Mixer being no different.

Mixer isn’t the first streaming brand not pan out with such a costly approach either. MLG.tv signed names like Matthew ‘Nadeshot’ Haag to unprecedented exclusive deals in 2013. Ultimately, however, both fell to the same fate after a few short years.

There’s no telling if Microsoft will ever get back in the race. For the time being, their sights are firmly set on the launch of Xbox Series X, which has a huge showcase planned for July 23. Titles like Halo, Fable, and more are expected to be revealed.

Entertainment

Charli D’Amelio invests in $50 million banking service for teens

Published: 2/Dec/2020 19:00

by Virginia Glaze

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TikTok’s most-followed content creator, Charli D’Amelio, has invested in her very first startup, and it’s a $50 million mobile banking service specifically aimed at teenagers.

In true D’Amelio fashion, Charli has decided to invest in her first company, Step, along with a slew of other celebrity investors.

What is Step?

Step is a mobile banking service directed toward teenagers aged 13-19, which announced this morning that it has raised over $50 million during its Series B funding stage.

Step has grown to over 500,000 users in two months after its official launch, and features a variety of elements seen in apps like Venmo and PayPal, allowing users to send money to friends via peer-to-peer technology.

 

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A post shared by Step (@stepmobile)

The service also offers its teen customer-base FDIC-insured bank accounts without any fees, easing their foray into the financial world. Step even gives users a Visa card that allows them to establish credit prior to turning 18.

Charli D’Amelio on her Step investment

As for Charli D’Amelio, she seems to be quite jazzed about the bank’s entire concept, having risen to prominence in the mobile world before turning 16 this year.

“As a Step partner and customer, I’ve been able to see firsthand how easy Step makes it to manage your money while providing the educational resources that today’s teens need but have largely been unable to find—myself included,” D’Amelio stated.

 

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A post shared by charli d’amelio (@charlidamelio)

“I’m excited to be able to use my platform to help close this gap and have made a direct investment in Step to help them develop even more useful products.”

Charli isn’t the only big name putting some stock into Step; A-list celebs like Will Smith, the Chainsmokers, and Justin Timberlake are also investing in the bank, making for a truly star-studded affair for the emerging company.

Step is planning to partner with even more celebrities and influencers in the future, and hopes to help its teenaged customer-base with everything from student loans to building credit in the long-term.

Charli D'Amelio invests in Step mobile banking
Step.com, Press Kit
Step aims to help teenagers ease into the confusing financial world.

“Student loans are a big thing. Being able to extend credit to these folks. Being able to offer new products and services so they’re not paying these outrageous, predatory banking fees and high interest credit cards,” Step CEO MacDonald said of the service.

It looks like Charli is making big waves with this major investment, and all eyes are peeled to see if her 101 million TikTok followers will hop onto the Step trend, too.