Vivek Ramaswamy thinks he can save BuzzFeed with these three weird tricks

Before taking a slight hit to his wealth last year, Vivek Ramaswamy was one of America’s twenty youngest billionaires. His latest venture — a $3 million investment to save BuzzFeed — has Cockburn questioning how he’s made it this far in business. 

Last Thursday, news broke that Ramaswamy has acquired a 7.7 percent stake in the ailing digital media company, briefly sending its stocks soaring over 80 percent. The former presidential candidate had apparently been snatching up shares since March, but BuzzFeed, like everyone else, only found out last week. Since then, Ramaswamy has increased his stake to 8.37 percent, becoming the company’s second largest Class-A shareholder. 

Ramaswamy is taking his new role as an activist investor very seriously and has come to the table with the naive confidence only a tech bro could bring. In a seven-page letter to BuzzFeed’s board of directors, Ramaswamy implied that the company would fail without his brilliant, three-pronged vision: get back up to startup size, focus on audio and video content (pivot to video!) and make BuzzFeed a bold and distinctive brand. In other words: fire everyone and just keep the YouTube page. 

Nearly every legacy media company has failed its audience. The first one to openly admit it & make major changes should soar. I just became the 2nd largest Class A shareholder of BuzzFeed.

Shakeup is required.

My letter to the board is below.

To the Board of Directors of…

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More corporate drama is sure to ensue between the two. Ramaswamy doesn’t think Peretti knows how to make BuzzFeed profitable, who in turn doesn’t think Ramaswamy knows how to do it. At the end of the day, does anyone really know? 

Cockburn

Mischief, mayhem and Washington gossip. Send tips and party invites to cockburn@thespectator.com.

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Vivek Ramaswamy thinks he can save BuzzFeed with these three weird tricks

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