In this short clip, Patrick Bet-David, Jedediah Bila, Tom Ellsworth and Vincent Oshana talk about Vice headed for bankruptcy.
FaceTime or Ask Patrick any questions on
Watch the full podcast here:
Subscribe to our channel:
To reach the Valuetainment team, you can email:
Advice is said to be headed for Bankruptcy May 1st New York Times story Nobody would have guessed this was Coming it was a 5.7 billion dollar Company just a minute ago and now They're talking about going on auction So Vice media is preparing for to file Bankruptcy after being unable to find a Buyer vice's largest debt holder Fortress Investment Group could end up Controlling the company in the event on Bankruptcy with Vice continuing to Operate normally and running an auction To sell the company for 45-day period With Fortress in a pole position as the Most likely acquired a company which Began as a punk magazine in Montreal More than two decades ago has blossomed Into a global media company with a movie Studio and Ad Agency glossy showing HBO And bureaus in Florida and far-flung World capitals its investors have Included Disney and fox but a bearish Market for digital media companies and Vices inability to turn a profit has Taken their toll jet thoughts on the Story Did you see Andrew Tate talking about This online by the way because they did That documentary on him that guy you Know Matt Lachey or whatever he was was Completely corrupted I mean Total Tool But you know it's interesting you know What's gonna happen I guess I guess you
Know you look at the if you look at what Vice has put forth you know for the past Always I don't know if any how familiar You are with bison I've seen the Documentary there's a lot of woke stuff Yeah it's a lot of you know I I think People are really tired of the messaging At these locations I think it's going to Be really hard for pretend organizations As I call them you know Vice was Pretending to be oh we're here to Deliver the news we're here to be Objective we're and when you don't do That people aren't stupid they look at That and they say well I'm just going to Turn this off and I think it was really Interesting because Andrew Tate was Front and center that documentary was Front and center and it was garbage I Mean I did it on my show I analyzed it Piece by piece it wasn't it was just a Manifestation of what was going on there This deception this manipulation of the Public people are really tired of that Stuff I think Disney is suffering big Time as a result of what they're doing With the wokeness and injected into kids Cartoons and people just want you to be Straight with them if you're a hard left Progressive as I call it regressive Organization if that's your line if You're an MSNBC or just own what you're Doing own your agenda I think a lot of These organizations are getting into
Trouble because they're trying to trick The public oh this is objective Journalism it's not people see it and Then they just say well I'm not gonna I'm not gonna go here for my information Because now you've been deceptive with Me I can't trust anything you're saying I think that's been a big part of why You saw the crumble and I saw just a lot Of celebration of just they feel like ah Fine it's been exposed you know this was Basically a facade for a really long Time I'm not saying they did no good Work but the challenge is when you do Some good work and then in you have Peppered all of this nonsense you ruin Your brand so decide what you want to be Be honest and authentic with the public And you will receive a good return if You don't you get this do you think it's A brand worth buying with what they've Done the content anything they have none Of it is worth buying like if you could Get it out of fire sale is it worth Buying I don't know I think I I what why would You need to buy Vice why why couldn't You do what they're doing but I I don't Know why you would need to buy it I Can't justify that in the same way that BuzzFeed I don't know if you saw a lot Of people tweet oh should I buy buses Yeah no I wouldn't suggest that why do It better why do you need to buy that
Entity that's already failed and that's I mean I don't Tom what are your Thoughts on this uh I I tend to agree And then I see another side of it too so I'll take take a counter side I I looked At some of these announcements today on Vice and what I did was I just kind of Looked at it through the lens of Twitter So A large debt holder Fortress comes in And then everybody else has to stand to The side kind of like Elon Musk coming In buying Twitter and then there's a Bunch of stuff going on inside here that Is not profitable they shouldn't be Doing and you immediately cut that the Same way that uh Elon Musk said hey These 10 projects over here for Technology I'm cutting them I'm still Working on this stuff over here all you People wait another group on censorship Okay you're gone too and by the time he Was done he only had 20 percent of the People left and guess what Twitter works Really really well right now still and You know blue checks and all the other Stuff is done you can debate that if you Will but he's showing that the company's Actually growing Twitter is growing and From a pruning to growing and so I look At this and I'm like wow you know we got A movie studio we got this and this and This and this and this what if somebody Comes in like Fortress because Fortress
Has said we're going to continue to Operate normally while we're running an Auction process and I think what will Happen is Fortress has to look at it to Two ways one I'm going to end up like a PE firm I'm going to end up owning this Son of a and now I'm gonna be Stuck with it so what are they going to Do they're going to be doing layoffs and Trimming things seeing it do it so I see Like a Twitter comparison where Fortress Might end up running Vice light only Some things that are actually you know Profitable and worthwhile now that said I was also reading a media that said There's not a lot of consumer connect to The vice brand they don't have Stickiness across everything they're Just present and it's one thing to be Present like you know like you know a Channel on TV Um like the USA Network you're kind of Present but there's no real stickiness To the USA Network you know what I mean That's right that's you're right and and Also don't you think I mean see to me The comparison to Twitter is interesting But Twitter was sticky Twitter was a Place it had its flaws I can understand Somebody going in like an Elon Musk and Wanting to buy Twitter because even Though it has its flaws there was so Much good about it it was so much harder About it it was so sticky so much so
That even people who couldn't stand some Of the censorship that was happening and Some of the nonsense that was happening In the last two years still couldn't Take themselves off of it right you're Like addicted to it because there's Something really cool and interesting And energy energetic about it Vice isn't That it's just kind of existing and for Me Vice feels very much like corporate Media right now it's there it's Happening but why would somebody go in If you had the power you're pbd right You have the power to go in and say okay I can buy this why would you buy that You can do it better yourself anybody Who's gonna have the power to buy that Is going to have the power to do it Better without any of the tainted Nonsense that comes with the baggage of That organization that's that's what I Love what you said too Jed you said uh Own your agenda at least be honest if You're honest you'll work if you're if You're full of people great line I Love on your agenda on your agenda put It on a shirt no that's yours that's all You and so don't shoot me pbd but I I'll Say this right where's the gun no You know I I took the call today for Valuetainment because they know that We're capable and I spoke to an analyst At uh I can say this one I can say this One not the second one oh you can give
The first one not the second one Tom and Matter fact I'll give neither one but I Spoke to two analysts and both of them Are like hey you know Um you know Fortress is looking for Potential you know acquirer Partners you Guys obviously have the capability you Know uh two weeks is there gonna be a Package out on this and I'm like Absolutely we'd like to look at it we'd Like to look at it but you know we're on To your point we're on the list and we Could do this and the question is you Bring up a good point why would you How come you don't put Vinnie and I on The call on the acquisition yes please Serious I think that would be great well Listen I didn't want to be in public but That's the final question You know what I want video on with these Analysts I've got corporate Counsel on here if You could record that can you imagine oh My God yes yes Vinnie in jail what's up I got your habeas corpus right here but You know the one thing that is going on The one thing that is going on that There's no question about There is a massive shake-up disruption Going on in media as an industry as a Space right now huge whether it's people Questioning fake news whether it's some People transitioning out whether it's Rupert Murdoch wanting to go to a
Different direction whether it's you Know CNN and and Malone's saying we're Done with Don Lemon and you know whether It's you know Vice whether it's BuzzFeed There's a there's a lot of this stuff That's going on right now and and you Know even Disney is kind of a packaging ESPN to you know in a quiet way to say ESPN could be for sale for the right Number there's a lot of shakeup going up Right now so if you like this clip and You want to watch another one click Right here and if you want to watch the Entire podcast click right here [Music]
