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In case you were wondering what type of news Buzzfeed considers unprofitable and not worth investing in: "The buyout is only available to reporters and editors who cover investigations, inequality, politics or science" cnbc.com/2022/03/22/buzzfeed-investors-have-pushed-ceo-jonah-peretti-to-shut-down-newsroom.htmlPermalink On twitter.com
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Mood -2 🙁
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And the priorities? "culture and entertainment, celebrity, and life on the Internet." It's foolish of the people running Buzzfeed at this moment not to understand that newsrooms in an organization like theirs are the loss leaders that preserve the trust that leads to clicks.Permalink On twitter.com
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Mood -2 🙁
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It's also *especially* worth noting: "Buzzfeed said quarterly revenue grew 18% year over year to $146 million. Profit rose to $41.6 million, up 29% from the same period the year before. "Full-year revenue grew 24% year over year to $398 million. Net income more than doubled"Permalink On twitter.com
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Mood +5 🙂
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For the rapacious capitalists who own BuzzFeed... enough will never be enough. That's a problem at all these news startups founded to chase big scale. Enough will never be enough. They will cut every cost to the slimmest margin, and journalism is always on their chopping block.On twitter.com
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Mood -3 🙁
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We definitely should know who exactly is so focused on gutting journalism at BuzzFeed. moorehn/1506324045649829897Permalink On twitter.com
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Mood +2 🙂