Three years ago, far-left BuzzFeed purchased Complex Networks for $300 million. Wednesday, an obviously desperate BuzzFeed was forced to sell Complex Networks for — try not to laugh — $108.6 million.
That’s a 64 percent loss of about $190 million.
You know what…
Go ahead and laugh.
Additionally, BuzzFeed announced another massive layoff, this time of 16 percent of its staff, due to a “planned strategic restructuring” next week to “enhance the company’s profitability” and “reduce centralized costs.”
Wikipedia describes Complex this way:
Complex Networks reports on popular and emerging trends in style, sneakers, food, music, sports and pop culture. Complex Networks reached over 90 million unique users per month in 2013 across its owned and operated and partner sites, socials and YouTube channels.
Sounds stupid to me, but I’m not a 35-year-old potheaded porn addict who has all kinds of disposable income for things that don’t matter because my parents refuse to kick me out.
The glorious news here is that BuzzFeed is doomed. A little over three years ago, BuzzFeed stock was worth $9.62. Today, it’s worth 44 cents. Get a load of this…
After the Complex Network sale, BuzzFeed’s stock doubled in price — doubled! — from 21 cents to 44 cents.
BuzzFeed is was a bigoted, superior, fascist, cruel, smug, fake news machine and left-wing cancer on our culture. When BuzzFeed still had BuzzFeed News, which once employed hundreds, those clowns wrote story after story predicting the demise of Breitbart News. Well, now BuzzFeed News is no more, and Breitbart News is hiring.
The primary thing BuzzFeed failed to grasp is that its business model was not built to last. There are only so many interesting things you can turn into listicles. Plus, when you aim your product at the young, you give yourself a limited shelf life. Youth culture constantly changes. In the sixties, young people were hippie activists. In the seventies, young people rejected the sixties and had a good time with cocaine and discos. In the eighties, everyone had a good time in Izod shirts. And on and on… BuzzFeed was built for the Digital Generation, who are now pushing 30 and have been replaced by shallow, uptight, humorless Woketards who are too busy worrying about cultural appropriation and misgendering to ooh and ahh over cat memes.
Things that last are the things that have always lasted: truth, wisdom, facts, depth, and timeless ideas. There’s a reason why classic movies and books are classic and timeless. These things still speak to us. It’s the same with a news outlet. All BuzzFeed delivered were sugar highs and endorphin pops. All BuzzFeed News delivered were lies and imperious proclamations about right and wrong based on the ether of the zeitgeist as opposed to lasting principles.
BuzzFeed stood for nothing other than smarter-than-thou propaganda, ironic distance, and snark.
Meaningless, empty calories taste good for a while, but over time, you seek something with a little more substance.
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