Last month, Matthew Patrick, the Youtuber with more than 11 million subscribers of Game Theorists channel made a video claiming that Defy Media owed him and around other 50 creators about $1.7 million worth of Adsense earnings.
The funds which Matthew Patrick was talking about are now under the authority of a bank named Ally. After Matthew Patrick uploaded the video in which he has made claims about Defy Media owing him money, Ally came up with a couple of tweets in response to the video.
Ally made a loan to Defy Media that it was unable to pay back after experiencing excessive losses and the owners refused to continue to support the company. (1/2)
— Ally (@Ally) January 25, 2019
Defy is being liquidated by a professional hired by their Board of Directors, and Ally stands to lose most of its loan. We are sympathetic to everyone caught up in this mess, and unfortunately Ally is also experiencing a substantial loss as a result. (2/2)
— Ally (@Ally) January 25, 2019
Ally in their tweet said that they too were in a loss in the situation which didn’t go well with Matthew Patrick and he, in turn, uploaded another video criticizing Ally for equating its situation to that of him and other YouTubers formerly employed with Defy Media.
“The creator income that sits in Defy’s bank accounts was never Defy’s, to begin with. Whereas the investment Ally lost was part of a loan that went bad. It was a calculated risk on your part,” Patrick explained, addressing Ally.
Patrick further added that Defy misled investors into believing that the Adsense money that it owed to the creators was their own. He emphasizes in the video that if Ally had been meticulous during the proceedings they would have known that that money claimed by Defy Media as its own actually belonged to the creators.
Patrick added, “Ally had a chance to double-check their work, to ensure Defy was a sound investment. A luxury and privilege us creators never had.”
To conclude the video, Patrick said, “You have a right to be angry, Ally. You have a right to want your money back. But don’t you for a second say that your situation is the same as ours. And if it does end up being that you get your money back before us creators, just remember where that money’s coming from. Because at this point, you know.”
