Apollo has an opt-out sub refund screen out. Since I unfortunately know, first hand, all about this process I'll say this is all incredibly stressful. If you ever had a sub for Apollo, even if you uninstalled it and deleted Reddit, go check it out and at least consider it.
It's probably only a few $s for you but those $s get multiplied by 10s of thousands of subs and end up being real money straight out of Christian's pockets.
@paul a bunch of jerks. Irrational arguments are like a**holes, we all have one, but they take the orifice to a new low.
Over my 25+ year career you could say I'm a multimillionaire. Do I have that in the bank? Heck no because that is combining yearly salaries.
I'm sick of these people trying to equate you all and also blaming you for raising a stink about the practices and dealings of these pompous entitled brats running these businesses.
Sorry.
@paul it’s an interesting juxtaposition. To have a reasonably strong command of the English language, knowledge of GAAP, etc.
But to not understand simple math. Actual subscribers less Apple’s fees, less paying designers, less taxes, etc.
It smacks of a secret marketing campaign by that douche CEO. Makes you wonder how many accounts they control to help spin their narrative.
@paul Sure, it’s very reasonable for any business not to touch its money for 12 months.
I’m sure that person does the same with their salary.
@SamTheGeek @paul also, they are all ultra capitalists, until someone else is making money.
I generally don’t read the comments there. Posts there are an exercise to show how smart the poster is.
@paul This post has to be from someone who's only exposure to real business is walking past a Dave Ramsey book in a Barnes and Noble without actually cracking it open.
Just monumentally uniformed.
@paul
An average pizza shop in the US makes $600,000 revenue per year. There are not many developers that make that much.
Apple's AppStore makes $1.1 Trillion with 34 Million developers and 700,000 paying apps. Just 636 apps make more than $1 Million, most of these are games and generally big earners belong to big corporations, Tik-Tok, Disney, YouTube, PUPG, MSOffice etc...
The amount of indie devs among the 636 App Store Millionaires is tiny. Apollo is not one of them.
@paul Though the comment is in terrible taste and likely incorrect in many ways, the discussion about the liability is correct.
The revenue was not earned until the end of the sub period, should have been shown as a liability on his financials, and should have systematically been recognized as income.
It’s a terribly worded comment, but the accounting portion isn’t incorrect per se.
There’s but a tinge of a kernel of truth in there somewhere: namely liability for services yet to be rendered, which mind you, nobody is disagreeing with
The disagreement lies with the armchair accounting done by this commenter
Looks like this is going to be a🧵so bear with me
For starters it doesn’t make sense for most indie developers to use the accrual based accounting method, almost all devs will use a cash based accounting method
1/
And in doing so, will dutifully pay income tax over all the amounts reported the 1099-Ks (or local equivalents) Apple provides to both the developer and the tax authorities.
And as you probably know, there is no unearned revenue in a cash based system.
But never mind that, say for the sake of argument you felt compelled to complicate things for yourself by adopting an accrual based system for the sole purpose of tracking liabilities.
2/
Congratulations, you complicated things for yourself with no benefit to speak of.
Why? Because Apple doesn’t give you insight into individual transactions to track the liabilities that come with it.
You get a lump sum on your bank account, a breakdown of currencies that lead to that sum, and that’s pretty much it.
3/
Sure they do provide a separate module in which you can track sales, but it’s separate and can’t be reconciled with the amount you get deposited on your account because of discrepancies in between the two in how things are tracked.
The main issue being, as it was explained to me by Apple anyways, when a transaction settles.
4/
So I could see in the analytics that product1 was sold at $5 on 6/1/2023, but because the transaction might not settle until 6/4/2023, it might not be accounted for in the sum of money I receive on 7/6/2023.
In short: you can’t even properly track these liabilities even if you wanted to
5/
@paul Plus no support or infrastructure costs.
Sign me up!
@paul the actual issue is “he is not poor” doesn’t matter!
He is working, day in and day out, to produce an outstanding app and integrate the latest OS features. He is not a landlord, this is not rent-seeking, he works for his living.
If you cut that off, he’s screwed! People who think like this commenter are sick. I would like to see what sorts of things they’d be saying if their income suddenly disappeared on a month’s notice.
@paul Apple’s 30% cut + server costs + most users paying nothing at all + not all downloads occurring on day 1 + it actually being 5.75 years.
I imagine the actual pre-tax revenue is about $750k per year, tops. I’m probably vastly overestimating. In any case, I suspect Christian is wealthy, but he’s had to take big risks and I expect his work-life balance is not as good as people with an employer and fixed working hours.
Come three months ago, he didn’t know his revenue was about to end.
@sdjmchattie @paul He’s said that if everyone who is ‘due’ a refund doesn’t opt out) then it will cost him $250,000 (US I guess).
We also know that most of his subscriptions come when he promotes them (around every quarter). So that £250,000 represents around 6 to 8 months. So somewhere around $500K possibly a bit less or a bit more.
But out of that you need to take equipment costs, the server guy, the server, support costs, Imgur costs etc. So not rich by any stretch.
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