Another SPAC Bites The Dust

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 20 April 2023

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Buzzfeed was in a rough spot even before the ad market softened.

(00:21) Dylan Lewis discusses:
- The shuttering of Buzzfeed News, the award-winning journalism part of Buzzfeed's business
- What the ripple effects are for all investors (not just Buzzfeed shareholders)
- Why he's looking forward to hearing from Meta Platforms' management this earnings season

(10:55) Dylan talks with Bill Mann about Softbank's early investment in Alibaba and the takeaway for investors.

Companies discussed: BZFD, META, BABA

Host: Chris Hill
Guests: Dylan Lewis, Bill Mann
Producer: Ricky Mulvey
Engineer: Dan Boyd

Transcript

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0:00.0	Sometimes a single company can hold a lot of investing lessons.
0:09.2	And when it's struggling, botly full money starts now.
0:14.8	I'm Chris Hill, joining me today, podcast host, programming guru, and investor at large,
0:26.5	Dylan Lewis.
0:27.5	Thanks for being here.
0:28.6	What an introduction, Chris.
0:29.9	Thanks for having me.
0:31.4	It's nice to be on the other side of the microphone.
0:34.4	I wanted to talk to you about Buzzfeed, because shares of Buzzfeed are down 20%.
0:42.4	And this is one of those stories that the more you dig into it, the more you realize this
0:48.2	is a story that has ramifications beyond just this one company.
0:52.4	And I actually think it has implications for investors throughout earning season.
0:56.9	But let's get to what's actually happening today.
0:59.6	Back is down 20% CEO Jonah Peretti announced the company is going to be shutting down its
1:04.7	Buzzfeed news division, which is about 15% of employees.
1:11.4	When I first saw this, I was confused.
1:14.3	You pointed out to me, Buzzfeed, you know, there's Buzzfeed, which I think a lot of people
1:18.0	are familiar with, with just sort of having lists and slide shows and that sort of thing.
1:23.0	And as you pointed out to me earlier today, Buzzfeed news is an actual newsroom and an award-winning
1:29.4	newsroom.
1:30.4	Yeah, it's important to separate the Buzzfeed internet candy portion of the internet property
1:35.7	from Buzzfeed news, which is a pretty bonafide news operation.
	...

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