We’ve been getting questions about why Modern Industry is shutting down. Without going into too much detail, I’d like to take a minute to address that here.
Modern Industry started out with 5 partners: Tony, Taylor, Lorris, Mike, and me, Patrick. Tony quickly decided that he didn’t want to work on Modern Industry full time and took a job with a pretty rad startup here in San Francisco. Early this year, Taylor and his family decided to move to Chicago to be closer to family. In June, Lorris moved to Australia with his wife who is working on her postdoc. That left Mike and I.
A few weeks after Lorris headed to Australia, Mike had a change of heart. He decided he wanted to pursue new challenges in his professional life, and that San Francisco wasn’t the place for him. As hard as it was to hear, I completely understand and support his decision.
So that left me. Did I want to keep running Modern Industry? Doing so would not be easy. All of our bags are made in house. There is no way I could make enough bags to survive and run a functioning business. To keep the business going I had two choices. I could triple our prices or hire people to help with manufacturing. But did I really want to?
What’s next for me? I’m still figuring that out. I’ve been inspired by the tech industry here is San Francisco. They are changing the world. I’d like to do the same. Now, I just have to figure out how. As soon as I do, I’ll be sure to let you know.
I am incredibly proud of everything we have accomplished over the past four years. We took $5k and turned it into hundreds of thousands of dollars in revenue. We’ve made thousands of customers happy. It has been incredibly fun and fulfilling.
I want to close by thanking you. You made it possible for us to do what we loved for the past four years. It has been an incredible learning experience filled with good times and even better people. Thank you.
Co-Founder // Modern Industry