Neither, it's a feedback loop. By writing negative stories, when company insiders have a scoop and they want to leak it, they know they can contact Mr. Alden because they've seen his previous articles on the company and his track record of not revealing leakers. Mr. Alden then writes an article using such leaked information, which generates buzz within the company (employees share these articles among themselves), resulting in more insiders who know about Mr. Alden and what he does. This encourages more people to share with Mr. Alden.

A similar situation happened with WSJ's Christopher Weaver and Theranos, after his initial few articles, several Theranos investors contacted him with more information, which lead to more articles published, and further attracted people who had company information to share.