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by exogeny
2421 days ago
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Deadspin, on it's own, was and is a profitable vertical. This story is completely about mismanagement and an unbelievably dumb calculation of believing the strength of a media brand is unrelated to its contributors. Further, don't ever confuse private equity for something more than it is: in nearly all cases, it's designed to suck out blood, saddle it with debt, and leave things in ruins. Ask Sears. Please read this for more background: https://theconcourse.deadspin.com/the-adults-in-the-room-183... It's an absurd and ridiculous shame what is happening to them, and while I know this is HN and HN is connected to YC, that thin-skinned vampire Thiel is at lease partially to blame. |
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Blame is the wrong word I think...I would say "partially to thank" for ridding the media world of Nick Denton's coin-op libel mill, which had been tempting fate for years.