Yes. Always. Waypoint is deliberately going against the grain from what is considered lucrative content by a lot of mainstream games media outlets. They’ve managed to attract a niche audience but capitalism doesn’t give two shits about “sustainable” and Vice is a bizarre vanity-project trash-fire with the wheels coming off.
Today’s news clearly marks a major change for Vice and can be distressing. That being said, we would like people to observe Rule 10 and not speculate, particularly when we do not have any publicly available information or if it even pertains to Waypoint. We understand that everyone loves this site very much, the moderators included, and we want to make sure the discussions happen respectfully for everyone involved if something should occur.
So while Disney is writing down their investment in Vice (ie their current valuation of Vice is that it is no longer worth what they’d assumed in their last financials), it still seems like it’s valued quite highly. The headline valuation from a year ago being $5.7bn.
The company currently counts about 3,000 employees.
This is why capitalism can’t work with worker cooperatives. If capitalism was assessing the value of the actual labour collective (and work done at Vice) then it would be saying that each employee there was worth well over a million dollars (even based on the lower valuation of $4bn).
I saw this earlier today and yeah. I am worried. I’ll try and avoid wide speculation and just say that regarding Waypoint specifically Im worried at the potential of losing one of the most fantastic communities around video games Ive ever been a part of and wish to continue to be a part of (Luckily they cant take away our Discord), and Im worried about the breaking of not only an incredible editorial and production staff but community of regular freelancers who have written some incredible stuff under Waypoint’s banner.
The news sucks, no doubt, and I do feel for the folks staring down potential layoffs. But regardless of what happens, the Waypoint’s staff, freelancers, and community, will all still be around. I’m not ready to abandon these people, and I suspect there are many who feel similarly. Waypoint is bigger than numbers in a boardroom, and no spreadsheet will change that for me. And if that means we move forward without Gavin McInnis’s lingering stench, then all the better.
If capitalism was assessing the value of the actual labour collective (and work done at Vice) then it would be saying that each employee there was worth well over a million dollars (even based on the lower valuation of $4bn).
I mean, everyone who works for Waypoint is easily worth that, or more.
I’ve expressed a level of anxiety about this before, but I’ll second what others will say; when it comes to important art, media, journalism, etc., there is always a concern about its ability to sustain itself. The way digital media has grown has fostered an environment that just does not always support a lot of the kind of labor that goes into getting important work done. Which… isn’t that different from the way other forms of media have grown, I suppose. Outlets like Waypoint often struggle to get eyeballs despite having had really high-quality articles come out.
Shame to hear about the other VICE verticals being slashed. (I was really liking Queerly Beloved, too!)
I wonder if Discourse.Zone is also independent of Waypoint, such that it could be pointed to a new destination where these forums could effectively carry on as normal - and in some ways I might almost see this as a plus. Waypoint is one of the few content creators that I would be willing to support financially. I would love to have the option to pay for a guaranteed ad-free podcast once/twice a week
Gotta love capitalism. Revenue is flat and we only made $625 million; time to sacrifice the staff at the blood altar.