Streamer who spent $1m on esports team says esports is terrible business: ‘Everyone loses a lot of money’

Jeremy Wang, best known on the internet as a streamer and owner of esports team Disguised Toast, shared some incisive thoughts on why “the esports industry is one of the worst things in you can come in”. And it’s not because his team sucks, even if it is: it’s because despite all the millions of dollars that have been poured into it, there’s no money to be made.

Disguised Toast announced in January that it had spent $500,000 to found a Valorant pro team called DSG. It didn’t go well: in May, the team was on an 0-7 streak and Disguised Toast had serious doubts. Despite this experience, he bought a professional League of Legends team in May, intending to compete in the North American Challengers League. But that venture also got off to an inauspicious start, as Riot unexpectedly eviscerated NACL and LCS pros threatened with strike action.

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