Vivek Ramaswamy recently acquired an 8.37% stake in BuzzFeed and is pushing for a major shift in the struggling media company’s strategy. In a recent letter to the board of directors dated May 27, Ramaswamy explained that “BuzzFeed has lost its way” and requires serious changes to survive.
Among his recommendations, Ramaswamy suggested that BuzzFeed hire talent from “across the political and cultural spectrum,” including conservative commentators like Candace Owens, Tucker Carlson and Aaron Rodgers. He also proposed that the company retain only the resources necessary to create and monetize its highest-value content, which “will almost certainly require large-scale headcount reductions.”
@VivekGRamaswamy "Pro-Trump Investor Vivek Ramaswamy Says BuzzFeed Should Make ‘Large-Scale’ Layoffs and Hire Candace Owens, Tucker Carlson, Aaron Rodgers"
Fresh off of showing the nation what an asshat he is, vivek apparently wants to do to BuzzFeed…— Rick (@skierstill) May 30, 2024
Ramaswamy pushed BuzzFeed to look at their shortcomings in journalism and to reevaluate their current troubled trajectory. He cited the publication’s disgraceful coverage of the debunked Steele Dossier, urging the organization to begin focusing on seeking the truth.
Ramaswamy advised BuzzFeed to acknowledge their shortcomings in journalism. He specifically referenced BuzzFeed News coverage of the Steele Dossier, which’s no longer active as a prime illustration. He suggested that the organization should revamp its image to focus on seeking out the truth.
Among Ramaswamy’s demands: hire “talents” like Tucker Carlson, Bill Maher, or Candace Owens to “challenge your audiences.” https://t.co/jnm0UKmS79
— KP 📚 (@kat_pep_) May 30, 2024
BuzzFeeds chairman and CEO Jonah Peretti expressed doubt about transforming the company into a platform for pundits known for incendiary content. He affirmed their commitment to their award winning journalism, declining to offer apologies. Nonetheless Peretti indicated a willingness to consider input from shareholders and engage in conversations with Ramaswamy.
Pro-Trump Investor Vivek Ramaswamy Says BuzzFeed Should Make 'Large-Scale' Layoffs and Hire Candace Owens, Tucker Carlson, Aaron Rodgers – Variety👿👿👿👿👿👿🤡 https://t.co/rdlfaRqdFI
— Monica Cates (@monicasloves) May 28, 2024
The ex-presidential nominee thinks BuzzFeed needs to act due to its financial struggles, such as a debt exceeding $100 million and a $26 million loss in the first quarter of 2024.
