Three years after pivoting to AI, BuzzFeed says there’s “substantial doubt” it can keep going. (Victor Tangermann, Futurism)
- The CFO cites "legacy commitments" from real estate and debt, not the AI strategy, as the main drag.
- The pivot to AI-generated articles came after years of restructuring, layoffs, and shrinking ad revenue. By 2023, BuzzFeed was already carrying $180 million in debt. The AI bet looks less like a bold strategy and more like a company running out of options.
- The easy headline is "AI killed BuzzFeed." The messier truth is that BuzzFeed was probably already dying, and AI content was the last thing they tried.
