Vice is said to be headed for bankruptcy
nytimes.com
nytimes.com
Vice Media has several issues;
1) The founder, Shane Smith, was over ambitious and raised over $1 billion, which is just too much for a media firm. This is not a software business with high margins to justify such capital.
2) Vice transformed from an edgy content company producing cool stuff like a documentary about the Liberian cannibal warlord and a trip to North Korean labor camp and became just another mainstream liberal/left-leaning news outlet; the problem is there’s no shortage of such outlets, so Vice lost what made it unique.
The good thing about the kind of edgy content Vice produced is that it cut across all political spectrums and across different countries, meaning a larger audience. Anecdote is I and my friends (from Nigeria) used to watch Vice shows but have stopped due to shoving US politics down our throats.
What will likely happen is that Vice will end up selling for scraps. But note that Shane Smith already sold $100 million+ worth of shares [1], so he’ll be fine regardless.
1- https://www.semafor.com/article/03/19/2023/shane-smith-made-...
I used to love vice's provocative and borderline offensive articles. The french version had that satiric and extremely spicy "war of classes" vibe some other french publications such as charlie hebo had and it was a delight. (cf this one if you can translate it: https://www.vice.com/fr/article/avbv55/le-guide-vice-pour-pe...)
However for the past 10 years I go see their home page once a year and I physically cringe and how boring / washed up all the articles are. I don't think there is a better example of go woke go broke if the story is true.
I'll bite. Why is it too much? This sum could be spent on purchasing smaller, struggling media companies covering various niches, or companies unrelated to media, to bootstrap a conglomerate.
But media margins are thin, and any media company will find it hard to make enough profit to justify a valuation above $5.7 billion...the few exceptions are the ones that take decades to grow so big, e.g., Fox Corp and Disney...the conglomerates as you said but this takes a long time to build, longer than VCs can wait for their returns.
Vice made $600 million in revenue in 2018 and earned no profit [1]. If it hit the public markets with those results, its stock will sink into oblivion. Tech companies get high valuations even without profitability because the software business is high margin and investors have hope that they'll become profitable in the future. It's not the same for media companies...the industry outlook is bleak, so there's no greater fool to sell to.
1- https://www.axios.com/2023/05/02/vice-media-preparing-bankru...
I don't know what the going rate is these days but I recall numbers like $0.2 – $2.5 per 1,000 views. Meaning you need to get, and maintain, lots and lots of clicks. Which means lowest common denominator clickbate, while simultaneously not being too edgy and scaring off advertisers. And it's a deep, busy market, so you've got tons of competition, too.
So throwing $1B at it is kind of overkill; it'll be ages before you ever get it back, and it locks you into a race-to-the-bottom market that's incredibly fickle. You coulda put that into a tech startup, or S&P 500 index fund, etc. for less risk and less BS.
I think Vice peaked around the time they put out This Is What Winning Looks Like. I haven't seen any media from Vice as compelling as that since then.
Vice produced (and still does some times) some incredible pieces because they were able to get access to people who were otherwise inaccessible… or it required a level or risk that is simply unacceptable.
I just came back to this thread because there’s an interview that just got posted a few hours ago with Maria Lvova-Belova IN Russia and it’s wild.
https://www.vice.com/en/article/gqwajy/this-is-what-winning-...
Just today, they released this interview in Moscow with the Russian lady wanted by the International Criminal Court for deporting kids from Ukraine: https://youtu.be/Ei4xLdv2gYE
Among other good ones involving Ukraine, Russia, Taliban, etc.
Taliban Rule: https://www.youtube.com/watch?v=iIFi_Rgm-T8
Ukrainian soldiers' lives before the invasion of Ukraine: https://www.youtube.com/watch?v=LKAt56zW0-g
Siege of Ukrainian Bakhmut: https://www.youtube.com/watch?v=1lpe1OgCbCY
and the all too crazy bride kidnapping that happens in Kyrgyzstan: https://www.youtube.com/watch?v=DKAusMNTNnk
Problem with vice is that they have been mixing serious reporting with trash, jackass plain nonsense. I remember this going on since the first time i encountered the print magazine. It seems as they are just aiming for the crass, no matter if there was substance of not and it ruined them in the end- rightfully so.
That has been their modus operandi from almost day one, though.
I just think they haven't figured the financing out. These reportings are still quite expensive, they don't want to go subscription-based, and when you look at the view counts, they are not that big really. You cannot finance all that just from YouTube ads, as the money then mosty go to Google.
I’m surprised they are still in business for while “Dick Amnesia is a Real Thing” [0] might be funny for some, it doesn’t seem that funny to me.
I’m not sure what Vice’s value add is over when they seemed to do some actual journalism on the Iraq war and other topics not covered 10-15 years ago.
Today they just seem like angry, failed hipsters. And I’m not sure who’s buying that.
[0] https://www.vice.com/en/article/7kxvjy/what-is-dick-amnesia
Also I am 100% confident that I could pick every ex partner’s dick out of a lineup. It’s crazy that you wouldn’t be able to, like - you’ve had your hands on it. You’ve had it in your face, you’ve been up close and personal with it - how could you not recognize it after the fact?? What’s the point of sleeping with a guy if you don’t pay any attention to his dick?
I thought that was normal and not so much a notable condition.
I think I also wouldn’t notice elbows and other body parts.
Based on your comment, now Im feeling self-conscious like I should be able to remember all the specific dicks.
Pretty much the Spy Magazine of the digital age. With the same result.
I also liked Vice when it was a zine copying Chunklet like 20 years ago. But something changes for the worse.
I liked a certain amount of snark when it was tongue in cheek, but when it’s actually mean it’s just not fun.
My friends did some amazing work for them and got paid almost nothing. They stopped taking Vice jobs and so did everyone else who was talented.
People aren’t necessarily proud. They just have their biases and they would love for a certain type of person or entity to berate them.
Those instances basically were just audio narrations with borderline pointless visuals you may as well just be listening to. The narrator might be talking about a particular invasion of a specific country for instance, and the visuals are just showing some random war footage and you're left wondering if this is even from the present day let alone the right country/invasion etc. It's totally strange. Can't cost very much to produce though...
Who among other things founded the Proud Boys. The same Proud Boys now on trial for seditious conspiracy to violently overthrow the lawful government of these United States: https://www.pbs.org/newshour/show/seditious-conspiracy-trial...
Does every fringe political thing wrap around? In other words if you move super far to the left, do you end up wrapping back around on the right wing? Is the connection libertarian or authoritarian, anarchist, fascist or what?
- Is their focus on making things better, or on keeping things from getting worse?
- What is their regard for institutions and/or expertise?
- Are they attracted to, or turned off by, a framing that relies on scalar hyperbole: "the worst its ever been", etc.?
A person can shift around "on the issues", viewed purely as left-right, while still remaining true to themself on these dispositional axes.
Conservatives: Civilization vs. Barbarism Libertarians: Freedom vs. Coercion Progressives: Oppressors vs. the Oppressed
His thesis was that polarization has been increasing because there is often no natural policy alignment across these axes, even while many would probably agree on some fundamental Western tenets of rights and justice.
There is policy alignment historically. We can look to how the Nordic countries or Mass and then America dealt with health care in modern times.
The right was cool with Mass “universal healthcare”. Liberals were not. Then when Obama did what Romney did in Mass, it suddenly became a liberal viewpoint and the Overton window moved to the right.
This has issues with “no natural policy alignment” imo.
- https://www.econtalk.org/kling-on-the-three-languages-of-pol...
- https://www.econtalk.org/arnold-kling-on-the-three-languages...
The topic is missing 1/3 to 1/2 of the Overton window and regularly conflates a made up “left” that doesn’t exist. Of course the left exists. Liberals are not the left.
I searched a few basic topics and many results [and comments] lacked awareness of socioeconomic knowledge. Sometimes defiantly so.
Meanwhile when I go and look at the [far] left, they are likely to be honest with their good faith intentions of agitation and propaganda.
Thanks for the links.
Edit: the problem isnt leaving out the left. The problem is leaving out the importance of the left and how “progressives” can’t be used alongside conservative and libertarian. It would be similar to giving a thesis on basketball with a “3 position” stance. Small forward (progressive), guard, guard (the other two). Crude example but this sort of sports book would be utterly trashed for being anti-intellectual and pedantic.
I agree with personal issues. What is the difference between societal and politic issues?
This topic is liberals founding a media company and one of them already being a controversial liberal who was scratched revealed and went mask off as a fascist. A cliche.
Good job at finding a framework with your Qs! An issue is they are vague. I tried answering your questions and they don’t answer what my politics or principles are.
I wonder if the perfect combo is to include policy questions along w/ some steel-manning. The current questions don’t take the Overton window in consideration. Anecdotal, I have yet to see someone’s [future] politics without hearing their policy ideas.
> A person can shift around "on the issues", viewed purely as left-right, while still remaining true to themself on these dispositional axes.
I’m still curious to what end any of this? What is it showing for people in general? Personally I would gain nothing about knowing someone’s principles or politics from those questions.
Finally the one thing that is entirely left out is capitalism. What left right are we discussing? Where does believing in capitalism lie on this? Without being specific and steel manning, people of every political disposition will sometimes answer the questions the same.
For instance—I see such huge parallels between today’s progressive left and the “moral majority” types that I really can’t functionally separate them but for the gods and scriptures driving the moralities that they preach. At least from the perspective I see them from, which is probably best described as “classic liberalism”, they are essentially identical. It’s also the reason that both of those movements tended to view classical liberalism as anathematic. Their perspective seems to be is that intolerance of outside beliefs and thoughts except their own is their most important quality, so they work to suppress.
I agree liberals and “moral majority” (which are one and the same really) are similar.
Since the convo is left vs right, do you have any opinions on people on the left who aren’t liberals? They don’t sound like the two groups you discussed.
I personally don’t have any of my views suppressed in a number of communities (not HN of course hah)
Yes there were anarchist political punks, etc but it wasn't really the focus.
I don't recall finding VICE in the late 90s, early 2000s to be political at all. It was just snarky and sometimes funny. "Dos and Don'ts" etc.
Then again, I don't really recognize what Americans call "left wing" now as "left wing."
I notice you're the same who mistakenly provided a simplified and thus incorrect definition of reactionary.
I'm not a reactionary so I'm not noticing the same.
- https://www.merriam-webster.com/dictionary/reactionary
- https://en.wikipedia.org/wiki/Reactionary
- https://en.wiktionary.org/wiki/reactionary
- https://dictionary.cambridge.org/us/dictionary/english/react...
One continue name calling and referring to me as say conceited. Or find some fallacy. Instead of understanding it is not big deal but reactionary is clearly about reacting to political progress.
This is what you linked to: https://www.oxfordlearnersdictionaries.com/definition/englis...
I implore any one to check out the politics definition list there and see how generic and white washed the definitions are. I checked a few.
1. Cambridge agrees with Oxford and me and the rest aren't credible sources. As Oxford and Cambridge say, reactionary is reacting to political change, not to exclusively left wing change.
2. I didn't call you names or say you were conceited.
3. More to the point: why are you responding on different threads? I clearly do not wish to communicate with you and the only reason I'm seeing this is because blocks don't work on mobile. Please stop.
Besides your own personal beliefs as to who is biased and impartial, why?
https://dictionary.cambridge.org/us/dictionary/english/react... Page says: "a person who is opposed to political or social change or new ideas: Reactionaries are preventing reforms. SMART Vocabulary: related words and phrases Custom, tradition & conformity Americanization anti-classical anti-conventional anti-institutional anti-traditional conventionalized conventionally crowd custom demi-monde multicultural multiculturalism multiculturally non-classical non-conservative ultra-conservatism ultra-conservative ultra-traditional unconventional unconventionally"
> not to exclusively left wing change
The above speaks for itself.
> 3. More to the point: why are you responding on different threads?
My post included: > I notice you're the same who mistakenly provided a simplified and thus incorrect definition of reactionary.
This isn't a good faith reading of my comment.
--
Final entry. Don't take either of our words for it. If interested in where reactionary comes from, any one can read about pivotal incidents like the Thermidorian Reaction via two good books going over the history of The Terror: https://global.oup.com/academic/product/the-french-revolutio... https://www.bloomsbury.com/us/terror-in-the-french-revolutio...
Perhaps by left wing you meant liberal. There are some (very few) examples of rich people that became class traitors, Engels was one, but usually they have some distance (e.g. via inheritance, as with Engels) from how the money was made.
That’s how the Proud Boys were created - as a response to Antifa violence.
In fact I can’t even find Vice being created by a single far leftist.
I also only found one or two sources denying that Proud Boys is not [far] right wing. Including sympathizers.
Do you have any knowledge on what type of [far] leftist Gavin or any Proud Boy was?
Also perhaps I’m not as knowledgeable. How is it wrapping around if different people are reacting? Antifa is about anti fascism. It isn’t about being far left. Antifa isn’t only anarchist or communist.
Any information you or any one else has would help me a ton. Id love to add this topic to my substack. But I don’t want to repeat what you wrote without it making sense.
Nobody is claiming this. It seems like you didn’t read the comment you’re replying to.
> Antifa is about anti fascism.
And the Democratic People’s Republic of Korea is a democratic republic run by its people. Sometimes things have a meaning that goes beyond how they would like to be perceived.
> That’s how the Proud Boys were created - as a response to Antifa violence.
You quoted something talking about wrapping around. However you talked about being reactionary. Being reactionary isn’t wrapping around any more. It goes one way since the left and right wing paradigms were established in the 1700s (or since power/hierarchies first formed between people).
Reactionary is reacting to power and tradition. Which is what antifa is. However it’s not what Proud Boys are. It’s a negative thing aka reactionary create a powerful reaction or response to a leftist decentralized minor movement.
I have studied political science and helped on a paper on reactionaries so I got carried away assuming you meant reactionaries can go from far left to far right or even talking about reactionaries. Also I assumed you were talking politically in a political discussion.
> Sometimes things have a meaning that goes beyond how they would like to be perceived.
And sometimes they don’t have meaning beyond. The example you gave is correct, yes.
Also what does antifa mean beyond anti fascist and what I described above?
—
> Also perhaps I’m not as knowledgeable? How is it wrapping around if different people are reacting. Antifa is about anti fascism. It isn’t about being far left. Antifa isn’t only anarchist or communist.
You didn’t respond to any of this. I wrote 3 lines about antifa. You responded to one.
I also specifically asked:
> …How is it wrapping
My entire issue and explanation was about the way you wrote what you wrote. Too much vagueness when responding to wrapping around being the discussion.
While you didn’t respond to any questions or concerns. I have revolutionary optimistic however so I still give you the respect of a full laid out response.
You don’t need to ask me what antifa is beyond ‘fighting fascism’. You know that too. Stop pretending you don’t or that you’re being respectful, it’s very clear you’re not. You understand the DPRK analogy. You know who antifa is. You’re too intelligent not to.
This is “negative”, or as normal people would put it, bad. If you think using words like “negative” makes for intelligent discourse, you’re not correct. Likewise mentioning your ‘studies’ is still the ‘appeal to authority’ logical fallacy.
Honestly judging by ‘studies’ (not degree) and ‘I have revolutionary optimism’ I feel like you’re in high school.
There’s a great chrome extension that lets you block people on hacker news. You’ll think I’m going to use it because your arguments are strong, but I’m using it because they are weak.
Who is saying otherwise?? are you equating me with Antifa or something? You keep pretending I believe I’m so smart. I don’t think I am. I believe I’m a lumpenprole. I know what I know. Nothing more
I don’t know what you keep saying about me. Do you enjoy appealing to the status quo or centrism or moderation or civility?
So like I was saying to my audience:
Some people don’t understand what reactionary means…some people think communism isn’t reactionary. Then again those people typically don’t know what communism is. Nor socialism. Usually they don’t have much education outside the Global North or other privileges.
The appeal to authority fallacy is only valid if I’m asking someone to believe me because I have authority. I’m asking others to be at my level and understand what words mean. So I don’t have to talk down to them.
Alas, on you go. Also fallacies are a fallacy. It sounds like I’m talking to a techbro of VC bro or petit bourgeoisie.
> You’ll think I’m going to use it because your arguments are strong, but I’m using it because they are weak.
We are all cliches, comrade.
You are. You are pretending that one group of violent morons you like is not reactionary, and the other group of violent morons you dislike are reactionary. The definition of reactionary is at: https://www.oxfordlearnersdictionaries.com/definition/americ...
> Are you equating me with Antifa
Yes.
> The appeal to authority fallacy is only valid if I’m asking someone to believe me because I have authority.
You write in pseudo-academic speak and mention your "studies"
> So like I was saying to my audience
This conversation is from two days ago. I'm your only audience.
> It sounds like I’m talking to a techbro of VC bro or petit bourgeoisie.
I'm not sure why you equate non-extremism with "techbro" or "VC bro".
> petit bourgeoisie
(emoji trash can icon)
> Also fallacies are a fallacy.
God. I fear for the future.
Anyway, apparently I'd uninstalled this https://chrome.google.com/webstore/detail/hn-blocklist/cgphk... but congrats on getting me to reconfigure it.
Nonetheless we can learn from this that centrists can not see their own perspective.
They related me with antifa. What? That might be the silliest thing ever. Antifa?? I barely know what it is.
Notice they went to a mainstream dictionary for the definition of reactionary. Not a non American imperialist influenced source. Though likely Wikipedia I assume would provide the same correct pol sci concept for reactionary.
So often we see people on HN or Reddit get so close to understanding the concept but they miss it even while reading the definition.
One major issue is their incessant need to be correct. Their worldview can’t possibly be incorrect. To crack that is to crack society.
This user chose to quote one specific generic dictionary just to try to be right when they are not political commentators yet insult any one else who is.
Mixed in with many insults.
Look up most other definitions for reactionary. Not even [advanced] political science only. The Google built in dictionary says
> “adjective (of a person or a set of views) opposing political or social liberalization or reform. "reactionary attitudes toward women's rights"
> Similar: conservative, right-wing, rightist, ultra-conservative, ultra-right, alt-right, blimpish, diehard, traditionalist, conventional, traditional, old-fashioned, progressive, true-blue
> Opposite: radical, progressive
No doubt if nailer ever looks at this they will find an excuse that this definition is somehow wrong.
Vice went downhill after 2014
- original article called Crimea russian territory
- softball questions
- letting war criminal spew propaganda
- questioning if any crime happened at all
It’s so annoying when Global North people think occupied stolen land is fine!!
Some people still to this day believe Hawaii and Puerto Rico and every other territory the US holds is American territory like Crimea is Russian.
Thank you so much for understanding the point isn’t to single out Russia. It’s to see how the entire Global North thrives by less violently colonizing and stealing resources, people, and territory from the rest of the world.
For instance, on vicenews.com now you see "Ukraine Is Now Using Steam Decks to Control Machine Gun Turrets" which is interesting...then on vice.com you have "Ring In #MasturbationMay With MysteryVibe's Massive Sex Toy Sale"...what is this mix? Why did they do this? vice.com is also full of stoner content, it's wild.
Wish they'd continue producing content like that... Hamilton's Pharmacopeia was fun as well.
While on other side, you can rewrite AP or Reuters. Pick some twitter post. Or just throw stuff at AI... Or sit in relatively cheap office and talk to microphone producing hours of content a day. While people throw money at you and sponsors pay for you selling out...
they essentially conjured an image of “coolness” to the end of selling sponsorships to megacorps. so they’d go and sneak into North Korea or meet a transgender Ecuadorean meth dealer and it’d be sponsored for a shocking amount of money by—say—Microsoft or Heineken thinking that cool millennials would hop on board
quite innovative for journalism as far as I know, but I suspect the return on investment was pretty poor
Soon it will just be billionaires feeding us what we want to know.
As for the dishonest ones, it's not a new problem (only the scale will be new), since fake news are widespread already. The society combats it by a reputation system. I take a BBC war correspondent seriously, but a random military-blogger I never heard of I take less seriously.
Any outlet that neglects it for the usual opinion pieces and soft news coverage is competing with every clickbait content farm out there, without the low operating costs to make it worth it.
Above all, the Co-founder of Vice is Proud Boy..good riddance
Gavin, one of the founders, was not a Proud Boy when he founded Vice. Then became a Proud Boy when he was not contributing to Vice.
Good riddance and nothing of value was lost.
I thought it got cancelled long ago, but apparently it got moved to Showtime?