LOL CUTE! WIN: BuzzFeed Accused of Mostly Laying Off Gay, Trans, and Minority “Writers”
1st February 2019
Read it.
Tim Pool says — and he has some background in this field, as he used to work for the start-up BuzzFeed-like company Splinter — that for the past five years or so, all these companies have been doing is paying people with the big pile of venture capital money they got at their inception. None of these companies have ever been profitable (well, BuzzFeed might have been profitable before it got the VC money and went into a Someone Else’s Money hiring/luxe office rental spree), and what’s happening now is that they’re seeing the end of their start-up funds running out, so they are confronted with the need to balance outlays to income for the first time.
Well, well, well.