Last Friday, The Pool, a media site aimed at (mainly) millennial women, collapsed into administration. On the same day, Vice Media said it was axing 250 of its 2,500 employees. That followed BuzzFeed, which a week earlier said it was laying off about 220 staff, and HuffPost owner Verizon, which on the same day announced plans to get rid of 800 employees. This has been a truly appalling start to the year for digital media. The Guardian counts about 2,100 jobs that have been lost in the space of a fortnight. So what on earth is going on, and is there anything that can be done about it? (And before you suggest it: no, blockchain is strangely not the answer. We've been down that road before.) The first thing to say is that this was inevitable. As Josh Marshall pointed out in an excellent piece
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Last Friday, The Pool, a media site aimed at (mainly) millennial women, collapsed...