No truer words, perhaps, for a business that, for a decade, paddled in a warm bath of venture capital funding but never fully controlled its pricing and distribution, a fundamental business requirement.
A pioneer of the internet news business, BuzzFeed News, which walked away with a Pulitzer prize for international reporting in 2021, said it was shutting down on 20 April after shares in the company had tumbled 90% since it went public. Jonah Peretti, the chief executive, said the company could "no longer continue to fund" the site. But that was just one of the pieces of bad news that has hit the digital media sector.
Vice News, another pioneer that once achieved a $5.7bn valuation, said it was reorganising its news operation and cutting jobs as it prepared for a sale. Last Friday, Vice was reportedly nearing a $400m acquisition deal from Fortress Investment Group and Soros Fund Management. The deal, which would save the company from liquidation, would wipe out nearly all Vice stockholders, including the private equity firm TPG Group, Sixth Street Partners and James Murdoch.
Denne historien er fra May 12, 2023-utgaven av The Guardian Weekly.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May 12, 2023-utgaven av The Guardian Weekly.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The Saudi football World Cup is an act of violence and disdain
Well, that's that then. In the event there were only two notes of jeopardy around Fifa's extraordinary virtual congress last week to announce the winning mono-bids, the vote without a vote, for the right to host the 2030 and 2034 football World Cups.
AI has made the move into video and it's worryingly plausible
I recently had the opportunity to see a demo of Sora, OpenAI's video generation tool, which was released in the US last Monday, and it was so impressive it made me worried for the future.
With tyrant Assad ousted, Syrians deserve support and hope
Last week, time collapsed. Bashar al-Assad's fall recalled scenes across the region from the start of the Arab spring almost 14 years ago. Suddenly history felt vivid, its memories sharpened. In fact it no longer felt like history.
TV
The Guardian Weekly team reveals our small-screen picks of the year, from the underground vaults of post-apocalyptic Fallout to the mile-high escapism of Rivals
Albums
Murky love stories, nostalgic pop and an in-your-face masterpiece captured our critics' ears in 2024
Film
Visual language, sound, light and rhythm are to the fore in the best movies of the year
Hidden delights Our 24 travel finds of 2024
Guardian travel writers share their discoveries of the year, from Læsø to Lazio
'It's really a disaster' The fight to save lives as gang war consumes capital
Dr James Gana stepped out on to the balcony of his hospital overlooking a city under siege. \"There's a sensation of 'What's next?'. Desperation is definitely present,\" the Médecins Sans Frontières (MSF) medic said, as he stared down at one of scores of camps for displaced Haitians in their country's violence-plagued capital.
Trailblazers The inspiring people we met around the world this year
From an exuberant mountaineer to a woman defiantly facing the guns of war, here are some of the brave individuals who gave us hope in a tumultuous 2024
Votes of confidence
From India to Venezuela and Senegal to the US, more people voted this year than ever before, with over 80 elections across the world. With rising authoritarianism and citizen-led resistance revealing its vulnerabilities and resilience in the face of unprecedented challenges, has democracy reached its breaking or turning point?
