3 ms·
Vice Media Cuts Staff and Ends Vice News Tonight
- boeingUH60 4y agoVice Media has several issues; 1) The founder, Shane Smith, was over ambitious and raised over $1 billion, which is just too much for a media firm. This is not a software business with high margins to justify such capital. 2) Vice transformed from an edgy content company producing cool stuff like a documentary about the Liberian cannibal warlord and a trip to North Korean labor camp and became just another mainstream liberal/left-leaning news outlet; the problem is there’s no shortage of such outlets, so Vice lost what made it unique. The good thing about the kind of edgy content Vice produced is that it cut across all political spectrums and across different countries, meaning a larger audience. Anecdote is I and my friends (from Nigeria) used to watch Vice shows but have stopped due to shoving US politics down our throats. What will likely happen is that Vice will end up selling for scraps. But note that Shane Smith already sold $100 million+ worth of shares [1], so he’ll be fine regardless. 1- https://www.semafor.com/article/03/19/2023/shane-smith-made-more-than-100-million-from-vice https://www.semafor.com/article/03/19/2023/shane-smith-made-...