These venture-backed online platforms were extremely destructive of the mid-20-teen media landscape.*
From The Guardian, May 1:
Plan comes amid waves of media layoffs and closures, including shuttering of BuzzFeed News
Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations.
The report comes days after Vice shuttered its Vice News Tonight program, and amid waves of media layoffs and closures, including the end of BuzzFeed News.
Vice has received interest from five companies and might consider a sale to avoid bankruptcy, the Times report said, adding that in the event of a bankruptcy, which could happen in the coming weeks, Vice’s debt holder Fortress Investment Group could end up controlling the company.
The company is expected to continue operating normally in event of bankruptcy filing, the Times reported....
"Is Venture Capital Destroying Online Journalism?":
I don't know but having spent some time trying to front run Sand Hill Road and understand things like Uber I have to say this is an interesting insight.And a year later we were seeing:
From Talking Points Memo, November 17:
There’s a Digital Media Crash. But No One Will Say It...
Media: "BuzzFeed CEO Jonah Peretti’s increasing pessimism and why it matters"
As promised in our earlier "Fed Working Paper: "Are Millennials Different?" (and why 'news for millenials' plays never panned out)" a continuation of our look at the "Millennial" media....
