@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.