Heartbreaking news from the New York Times: The Metropolitan Opera, America's largest performing arts organization, is resorting to layoffs, salary cuts for executives, and even postponing productions amid ongoing financial woes. They've drained their endowment, cut back schedules, and are pinning hopes on a shaky $200M deal with Saudi Arabia that might not materialize. They're even considering selling their iconic Chagall murals or naming rights to the theater just to stay afloat. This is what happens when traditional funding models—endowments, government aid, and big corporate deals—fail in a volatile economy hammered by pandemics and global shifts.
Stories like this are why I'm so passionate about pushing Bitcoin for the Arts forward. Bitcoin offers a decentralized, borderless way to fund creativity without relying on fragile institutions or foreign governments. Imagine artists and organizations like the Met receiving direct, transparent support from a global community—donations that can't be clawed back, inflated away, or tied to political strings. It's about empowering the arts to thrive on sound money, fostering sustainability and independence for creators everywhere.
This is our chance to show the world a better path. Let's orange-pill the arts and build a future where culture doesn't have to beg or compromise.
Read the full NYT article here:
Despite Drastic Financial Steps, Met Opera Turns to Layoffs and Cuts
The largest performing arts organization in the country will lay off workers, cut salaries and reduce its offerings. It may also sell its Chagall m...
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