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

https://futurism.com/artificial-intelligence/buzzfeed-disastrous-earnings-ai

[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? 😂

[grumpydad@infosec.exchange]

@GossiTheDog Why do I get the urge to play "Another one bites the dust" by Queen al of a sudden?

[csgraves@turtleisland.social]

@GossiTheDog oops, but good. Buzzfeed isn’t necessary anyway. GO AI, GO BROKE.

[garretble@mastodon.social]

@GossiTheDog

Top ten reasons your website failed. Number 7 will shock you!

[csgraves@turtleisland.social]

@mweiss @GossiTheDog I’m just glad to see them dying. Buzzfeed has been garbage for quite a while.

[variaxocellus@mastorol.es]

@GossiTheDog So building a business based on asking ChatGPT to write about stuff when the only people who want to read whatever slop ChatGPT spits out can instead go ask directly is a failing strategy? Who could have known?

[vonskinnback@mastodon.social]

@GossiTheDog go anti-folk, go broke...

[mweiss@infosec.exchange]

@csgraves @GossiTheDog it has, and that was a function of losing that revenue. Or, rather, was the predictable outcome. They might have chosen to reduce quality as a means of robbing their future even if the revenue didn't drop. Plenty of companies have done that, too. But we never got the chance to find out in this case.

[xenolurch@kolektiva.social]

@GossiTheDog To be fair, buzzfeed was always plagiarizing slop merchants, long before gen"ai" became the flavor of the week.

[bonsai861@mastodon.social]

@GossiTheDog Finally some good news

[eduse7en42@social.vivaldi.net]

@GossiTheDog como quase toda empresa que usa IA

[houba@spore.social]

@GossiTheDog

Wow, Buzzfeed still exists. I'm more shocked by that.

[frykitty@craftgoblin.club]

@GossiTheDog Corporate suicAIde.

[ve2uwy@mastodon.radio]

@GossiTheDog

1) Hire all the old staff
2) Name the new org FuzzBeed
3) ???
4) Profit!