Buzzfeed journey:

[gossithedog@cyberplace.social]

Buzzfeed journey:

- Successful
- Pivoted to GenAI for content
- Laid everybody off
- Now admits it probably can't stay in business

BuzzFeed Nearing Bankruptcy After Disastrous Turn Toward AI

Three years after its pivot to AI, the writing is on the wall for BuzzFeed. The company said there's "substantial doubt" it can keep going.

Futurism (futurism.com)

[joonq@mastodon.social]

@GossiTheDog The AI BOOM is here guys everybody join in! What about dont put all your eggs in one basket investing advice. How has everyone forgoten that when it comes to investing in AI.

[fuzzyfuzzyfungus@cyberplace.social]

@GossiTheDog I wish that the "We replaced people interested in creating value with people interested in cutting costs" where an isolated incident at a marginally relevant company; not a eulogy for a surprising percentage of the early 21st century.

[t2r@infosec.exchange]

@GossiTheDog Hopefully that's a lesson, but probably isn't, to other companies.

[stonykark@mstdn.ca]

@GossiTheDog lol. FAFO.

[mweiss@infosec.exchange]

@GossiTheDog the order of events is true, but they were a dying company either way. Their revenue stream largely depended on social media companies promoting their content. When those companies concluded that promoting links that took eyeballs away from them was counter to their own engagement goals, they took that revenue stream away.

The AI pivot was mostly the "burn the furniture" cost-cutting strategy that dying companies engage in as a last ditch effort to stay alive, hoping that something will change in that borrowed time to make it possible to have a long term strategy again.

There are plenty of bad AI business decisions out there. This one probably isn't one of them.

[simonzerafa@infosec.exchange]

@GossiTheDog

How to use AI to speed run to bankruptcy

A new guide from O'Riley?