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From hipster hype to financial flop: Vice Media, RIP

In the end, Vice Media was nothing more than a hipster pyramid scheme preying on the elderly.

Last week, the company announced it would lay off hundreds of staff and stop publishing content on Vice.com. Following last year’s bankruptcy filing, CEO Bruce Dixon said it was no longer “cost-effective” to distribute its own content and would pivot back to a profitable business model. I promised. Now they want to become production studios for the established media companies they once scoffed at.

Vice Media’s website leaves us with some of the most ridiculous far-left nonsense spewed out into the world.

This company was built on the passion and knowledge of its founder, Shane Smith. blues brothers Then they pitched their great stories to “traditional” news executives. The pitch: Vice knew the secret sauce to capturing the next generation of news consumers who had fled mainstream media.

At least 25 years ago, the company did something that sent a man named Trump to prison.like pay someone money He pretended to be an MTV executive interested in the show in order to mislead reporters who were profiling the company. Alternatively, a Vice employee could bring in a friend with a laptop and pretend to be an employee.

Vice was accused of using hidden techniques to artificially inflate viewership numbers. According to one of Smith’s ex-girlfriends, “Shane was always talking about how stupid people who gave him money were.”

After one investor was warned about the heat without steak by a company associate, he said, “You were absolutely right, but this story is a good one and I’m going to pass it on to the next person.” answered.

A key early investor was my former boss, Rupert Murdoch. reportedly “I have Gen Y, I have social, I have online video. You have none of that. I have a future. You have a past.”

done. Murdoch invested $70 million in 2013, raising Vice’s valuation to $1.4 billion.

After a few months, I noticed a problem. At the time, I was running her FoxNews.com and trying to grow my social media presence. Analysis of other media reveals that Vice’s Facebook numbers for her are ridiculously inflated. Although the company was thought to have millions of followers, its posts generated very few comments or interactions. This was a clear sign of a bot account or, more likely, an overseas “user” paying to follow the Facebook page.

My boss had just dropped $70 million, so I thought I should pay attention to him. After the meeting, I told Rupert what I’d found and summed it up as “full of shit.”

I expected that maybe he would be a little worried, but that wasn’t in Rupert’s DNA. He just laughed and said, “Of course it’s full of shit.”

The following year, venture capital firms and A&E invested $500 million, raising Vice’s valuation to $2.5 billion. By 2017, another $450 million in investments had taken his value to nearly $6 billion.

That kind of money can buy you a lot of video production, articles, and viewers. This gave Vice his two feature film studios, a publishing division, a cable TV channel, and more.

It’s all gone.

Shane Smith personally pocketed more than $100 million and told friends he would be “post-economy”. Although his lavish lifestyle suggested prosperity to investors, his $23 million purchase of a Los Angeles home reportedly prompted lower-level Vice workers to form a union. (Remember the mansion shootout scene in “Beverly Hills Cop”? That was the location. Smith eventually sold the house for his $49 million.)

But there was something Vice couldn’t buy. Profitability.

The company has produced some engaging content, all while having a healthy dose of youthful self-righteousness. If you can spend a billion dollars without worrying too much about profit, the hobby can be a lot of fun.

But that website will leave us with some of the most ridiculous far-left nonsense ever spewed into the world.

Below are some of my favorite samples.

  • Why some men choose to have their penis surgically removed
  • A girl’s guide to hiding your penis ***
  • How to make the perfect mangina
  • A humble look at why men traumatize women with poop
  • all masculinity is toxic
  • Yes, there are trans animals.
  • A trans woman who became a dragon
  • 32 unbearably cute things about Beto O’Rourke

As Vice Media staggers into the sunset, its legacy isn’t the edgy content it promised, but rather shenanigans, debt, and extorted investors. In the media world, being the coolest kid in the room doesn’t necessarily make you money.

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