Vivek Ramaswamy Uses Buzzfeed Stake to Demand Staff Cuts

(AmericanProsperity.com) – Vivek Ramaswamy, the former U.S. Republican presidential candidate, urged Buzzfeed to make staff cuts and hire consecutive commentators, like Tucker Carlson.

Jonah Peretti, BuzzFeed’s co-founder and CEO, claimed that Ramaswamy has “some fundamental misunderstandings about its business,” but he did offer to meet with him. Ramaswamy is a huge supporter of Donald Trump and owns a little over eight percent of Buzzfeed after investing last week.

He wrote a letter to Buzzfeed’s board where he said that the business had “lost its way” and called for a “major shift” in its strategy. Buzzfeed raised hundreds of millions of dollars from investors at the beginning of the 2010s as it put out viral stories that were shared across social media and brought tons of traction to their pages.

In his letter, he said that they should implement widespread job cuts to “get back to startup size” and focus on video and audio. He even drafted a statement for the firm where they could publish it to apologize for their previous coverage. He also told Buzzfeed that they should own up to their “past journalistic failures.”

He stated that they should be bold and recruit conservative commentators, like Candace Owens or Bill Maher, as part of a “challenge” to their audience.

Peretti did agree that his business was undervalued, but he rejected the proposed solutions. “I’m very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits,” he said. “And we’re definitely not going to issue an apology for our Pulitzer prize-winning journalism.”

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