For those who crave alternatives to the hegemony held over the English-language news industry by a few billionaire owners, the failure of these digital brands in finding viable long-term business models will be a source of great frustration 🖋️ iburrell
Both these media start-ups were led by exceptional characters. Vice’s Shane Smith is a brash, gregarious man who radiates energy. BuzzFeed’s Jonah Peretti is slight, cerebral and nerdy. Both are digital media visionaries. But to some of their investors and employees, who have lost money and jobs, these two modern moguls might appear like Svengalis. Or emperors without clothes.
That was not so simple. Vice began as a Montreal-based printed street culture magazine in 1994, before Gen Y or Web 2.0 even existed. Later, by cleverly embracing the rise of video media, it grew to become one of the world’s most influential youth brands, making documentaries for HBO.’s work was Gonzo journalism, made by thrill-seekers for a voyeuristic audience. It filmed alongside the “cannibal warlords” of the Liberian civil war for what it called a travel guide .
The London newsroom included some of Britain’s best journalists. It broke stories on match-fixing allegations in tennis, and on the mysterious deaths of British-based Russians. David Cameron paid a visit to court young voters., of which he is also a co-founder. But his ability to dazzle investment bankers with his money-making insights into how the internet affects the human brain must surely be waning. Before it disastrously debuted as a public company in December 2021,was valued at $5.
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