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Vice Media Files For Bankruptcy

Discussion in 'Journalism topics only' started by Mr. X, May 15, 2023.

Page 2 of 2
  1. The Big Ragu

    The Big Ragu Moderator Staff Member

    Vice raised BILLIONS of dollars in equity and debt financing while a distorted interest rate market had people treating money with no respect. It burned through an insane amount of cash. ... and nothing productive came of it. At one point, people were buying equity in the company (and not just people, Canadian tax payers, Disney. ... George Soros provided debt financing!) at a $5.7 billion valuation.

    There is a huge unseen cost to that. ... that money has to come from somewhere. There are all kinds of way more productive things the money could have potentially found that would have been viable. And we all lose from that never having bee nallowed to happen. Those alternatives could have provided jobs that were actually stable and not a fantasy, and benefited people with something that their demand was paying for instead of forcing people into risky behavior by robbing them of yield.

    The environment that made Vice at that valuation possible even made relatively smart people act delusionally (in hindsight). ... Not only was Disney one of the entities that got holding the bag, it could have been even worse for them. ... Shane Smith turned away a $3.5 billion offer for the entire thing from Disney! How much does he kick himself every morning?
     
    The Big Ragu, Feb 23, 2024
    #13
    cake in the rain and GBNF like this.
  2. goalmouth

    goalmouth Well-Known Member

    Shane Smith is the Jerry Yang of the new dot-com bubble.
     
    goalmouth, Feb 23, 2024
    #14
  3. Mr. X

    Mr. X Active Member

    Last edited: Feb 23, 2024
    Mr. X, Feb 23, 2024
    #15
  4. matt_garth

    matt_garth Well-Known Member

     
    matt_garth, Feb 23, 2024
    #16
    I Should Coco likes this.
  5. Regan MacNeil

    Regan MacNeil Well-Known Member

    Let "I hope they get perpetual diarrhea!" be this generation's rally cry.
     
    Regan MacNeil, Feb 23, 2024
    #17
    dixiehack likes this.
  6. Pilot

    Pilot Well-Known Member

    Are we sure online news sites ever work?
     
    Pilot, Feb 23, 2024
    #18
    Batman and cake in the rain like this.
  7. justgladtobehere

    justgladtobehere Well-Known Member

    Yeah, I don't think overpaid executives were what tanked Vice.

    Documentary Now! had a good parody of Vice's style.
     
    justgladtobehere, Feb 23, 2024
    #19
  8. justgladtobehere

    justgladtobehere Well-Known Member

    justgladtobehere, Feb 23, 2024
    #20
  9. Batman

    Batman Well-Known Member

    How to make money off an online news site:
    1) Find a venture capitalist to bankroll you for a year
    2) Throw a bunch of shitty clickbait stories at the wall to generate some modest web traffic
    3) Have one or two of those shitty clickbait stories go viral and spike your traffic
    4) Convince some dumbass with more money than brains that your spiked traffic is sustainable
    5) Sell the company to the dumbass so that you make money. Preferably get paid with a briefcase full of cash.
    6) Profit
    7) Smile on your boat in Maui while your old company melts back into anonymity and declares bankruptcy, thus screwing over the rank and file.
     
    Batman, Feb 23, 2024
    #21
    wicked, maumann, SFIND and 1 other person like this.
  10. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    TheSportsPredictor, Mar 6, 2024
    #22
  11. Twirling Time

    Twirling Time Well-Known Member

    Finally someone found a way to fill in the ???
     
    Twirling Time, Mar 9, 2024
    #23
    Batman likes this.
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