Re the Kawa situation, I think I might have a clue why they decided to shut down their vtuber branch. Earlier this evening, I saw a video by Mr Underhill which clipped talent Kozii's post-Kawa stream where she says that Kawa worked on a model where she paid them $100 for their services, even though she only brought in $250-300. Timestamped:
I tweeted at her and asked her if I was understanding her correctly about Kawa's management services basically being for hire for a low monthly fee, and in response she directed me to these tweets from back during the "transparent shares" trend. I remember seeing them at the time now, though I had forgotten them.
ghostarchive.org
ghostarchive.org
$183 times six talents is $1098. That's not enough to hire even a part-time manager unless maybe they were based out of South Sudan or somewhere.