Great story here. The Intercept, one of the U.S.' leading leftist publications, was funded by a tech billionaire. Once he stopped sending cash, the magazine couldn't make any money, and its reporters began struggling for power and knifing each other.
Great story here. The Intercept, one of the U.S.' leading leftist publications, was funded by a tech billionaire. Once he stopped sending cash, the magazine couldn't make any money, and its reporters began struggling for power and knifing each other.
Decades from now, when we tell the story of how America calmed down after the unrest of the 2010s, stories like this will be a key piece of the history.
@Noahpinion If tech billionaires pull their funding from a lot of their hobbies, many businesses will crash to insolvency. Building cash flowing, revenue positive businesses is very very hard. Demand subsidies take you only so far. Typically you rely on the whims of some billionaire.
@Noahpinion Billionaires investing in social platforms & other messaging tools are NOT trying to make profits from selling ads & subscriptions. 👉🏼They want to own *influence power* to help get anti-tax & anti-regulation folks elected into power—by any means—no matter who/what gets harmed
@Noahpinion The two viable paths of media today are patronage or Substack.
@Noahpinion None of this is surprising. Leftists are horrible at business.
@Noahpinion A lot of news media seems to be failing atm. Can’t imagine why.
@Noahpinion It’s interesting that vaguely mirrors the exact trajectory of every communist “revolution” in history. They never can sustain themselves, and the result is always purity signaling, scapegoating & social status engineering.
@Noahpinion “It sucks to suck.” The Intercept sucked. We all knew HuffPo and DailyKos folks would eventually grow up; we just didn’t realize they would still be living in the basement.
@Noahpinion Time for one of my favorite memes