1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - Vice and the fragility of digital media

Plus: AI FOMO and fashion envy at SALT, venture lenders swoop in to save startups, climate tech's rocky ride, fixing the supply chain & more
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Weekend Pitch
May 21, 2023
Presented by Masterworks
(Joey Schaffer/PitchBook News)
This week, media brand Vice Media filed for bankruptcy. Its downfall is not only a blow to its backers but also underscores the challenges of turning a profit on digital content in an era of rampant disruption.

Vice, which started in the 1990s as a Quebec-based culture magazine, spent the last decade reinventing itself as a digital media empire producing written content, video and podcasts. In 2017, the group—already backed by Disney—raised $450 million from TPG Capital at a $5.7 billion valuation. With its bankruptcy, Vice's creditors, Fortress Investment Group, Soros Fund Management, and Monroe Capital, have agreed to buy the company for $225 million.

The deals come weeks after another digital media group, BuzzFeed, shut down the last of its news department; the parent company revealed it would lean more on AI to generate its content. Given the fate of both companies, potential investors of the next big digital media property will be cautious about the future of the business model and what the next wave of disruption—specifically the rise of AI-generated content—may bring.

This is the Weekend Pitch, and I'm Andrew Woodman. You can reach me at andrew.woodman@pitchbook.com or on Twitter @adwoodman.
read more
 
Share: Email LinkedIn Twitter Facebook
 
A message from Masterworks  
Doable "side hustle" of the ultra-rich nets investors double-digit gains
The ultra-rich have bought and sold blue-chip art as a "side hustle" for centuries, creating a $1.7 trillion asset class in the process. But now, investors on this platform have used it to get proceeds from more than $45 million in sales, realizing annualized returns on their investment of 10.4%, 13.9%, and even 35%.

These success stories were all made possible by Masterworks, the nearly $1 billion AUM platform for art investing. By qualifying every offering with the SEC, Masterworks has unlocked this exclusive market for everyday savvy investors, at just a fraction of the cost.

It's easy to get started, but new opportunities can sell out in just minutes. Fortunately, PitchBook readers can skip the waitlist to join with this exclusive link.

See important disclosures at masterworks.com/cd
Share: Email LinkedIn Twitter Facebook
 
 

Reporter's notebook: SALT tackles AI FOMO and fashion envy

Anthony Scaramucci (SALT iConnections New York)
At the SALT conference in New York this week, financiers floated calls about the role of AI in investing, the enduring appeal of tokenization and the uses of cold hard cash. They also traded notes on fashion and grooming.

Asset managers, allocators, and service providers convened at the Glasshouse event center to talk shop. Some spent as much as $10,000 for the privilege.

Our reporters arrived by subway—not a private helicopter, the mode of transport suggested by the conference coordinator—at the event hosted by Anthony Scaramucci, former White House communications director and founder of SkyBridge Capital.
read more
 
Share: Email LinkedIn Twitter Facebook
 

Trivia
The pandemic intensified interest in all facets of the supply chain, and investors made bets on startups to help untangle the hiccups. But VC investment dropped in Q1 of this year, continuing a downward trend. How many deals closed during the first quarter of this year?

A) 76 deals
B) 145 deals
C) 45 deals
D) 195 deals

Find the answer at the bottom of The Weekend Pitch!
 

Climate tech's rocky ride

Can concrete really go green? What about steel? There's money to be made in both of these notoriously hard-to-abate, heavily emitting industries, according to our Q1 2023 Carbon & Emissions Tech Report.

Carbon and emissions tech startups are having a rocky ride, but they're also demonstrating resilience. Dive deeper to understand why.
 

Mending links in the supply chain

(Morrowind/Shutterstock)
The supply chain tech industry has maintained a laser focus on covering weak points in the global supply chain exposed by the COVID-19 pandemic. Deal counts and value dropped in Q1, and freight tech companies felt the retreat most.

Still, the freight tech industry is highlighted for the potential of autonomous trucks to strengthen the supply chain in our recent Emerging Tech Research on Q1 2023 trends in the sector.
 

Business development companies seize the moment
Hercules Capital and its venture lending peers may become heroes to some VC-backed startups facing the gauntlet of a burning cash runway this quarter.

Our latest analyst note on public business development companies' (BDCs') venture lender earnings shows just how hot the market is for debt financing among VC-backed companies and explains the income gains that BDCs are logging in a high-interest rate environment.
 

Quote/Unquote
"There's billions of uninvested capital in the venture ecosystem globally. Most of it was raised in the last three years. That capital will be deployed, maybe not tomorrow, but as we look over the next three to five years, that capital absolutely will find its way into companies."

—HSBC's head of technology and healthcare David Sabow, a former SVB executive, during an interview with PitchBook.
 

Recommended Reads
Japan's new military might is rising in a factory in Hiroshima. [Bloomberg Businessweek]

Google breakout star Marissa Mayer attempts to step out of her own shadow with her startup, Sunshine. [The Information]

The looming El Niño could cost the world trillions of dollars. [Wired]
 

Stay tuned
Keep an eye out for these fresh insights and research reports coming out this week.
  • Q1 2023 Enterprise SaaS Report
  • Q1 2023 Medtech Report
  • Q1 2023 Global Private Market Fundraising Report
 

Trivia
Answer: D)

In Q1, 195 deals were closed in the supply chain tech vertical. You can read more about those deals and trends in our Q1 2023 Supply Chain Tech Report.

This edition of The Weekend Pitch was written by Andrew Woodman, Jessica Hamlin, Rosie Bradbury, Claire Simpson and Jacob Robbins. It was edited by James Thorne, Ron Prichard and Laural Hobbes.

Were you forwarded The Weekend Pitch? Sign up at pitchbook.com/subscribe.
 
Since yesterday, the PitchBook Platform added:
76
People
2
Companies
See what our data software can do
 
About PitchBook | Terms of use | Advertise with us | Contact
Follow us: in twtr fb

This email was sent to you via the PitchBook Platform.

Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here.

© 2023 PitchBook. Win what's next. All rights reserved.

Older messages

How low can valuations go?

Saturday, May 20, 2023

Also: Our first deep-dive into enterprise SaaS; The key subsectors that will propel fintech; All-new research on carbon tech and supply chain tech... Read online | Don't want to receive these

Seeking supply chain stability

Friday, May 19, 2023

Indoor farming struggles to stay afloat; VCs discuss women's health startups to watch; investors pan for retail fintech gold Read online | Don't want to receive these emails? Manage your

Ranking Q1's most active investors

Thursday, May 18, 2023

Startups welcome sovereign wealth funds; food delivery providers stand out after IPO; Q&A: HSBC builds a tech practice Read online | Don't want to receive these emails? Manage your subscription

The banks scooping up ex-SVB talent

Wednesday, May 17, 2023

Public lenders jump on venture debt; takeaways from Fintech Nexus USA; Twitter makes first Musk-era acquisition; OpenAI CEO testifies on AI Read online | Don't want to receive these emails? Manage

Europe's rise and fall in VC valuations

Tuesday, May 16, 2023

Falling prices bolster M&A; Illumen bags $168M for impact investing; Q&A: How infrastructure defies inflation Read online | Don't want to receive these emails? Manage your subscription. Log

You Might Also Like

The Profile: The most powerful person in AI & the Gen Z influencer making Wall Street more accessible

Sunday, November 17, 2024

This edition of The Profile features Martha Stewart, Jensen Huang, Sydney Sweeney, and more. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Sunday Thinking

Sunday, November 17, 2024

"Success is not a comfortable procedure. Get comfortable being uncomfortable if you ever want to be successful." ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

💰 3 Quick Wins We Look for When Buying SaaS (20% Revenue Boost in 2 Weeks)

Sunday, November 17, 2024

Most SaaS sellers miss these obvious growth levers - here's how we spot and exploit them... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

#TA 175: 🤯 Overhead at the B2B Forum: Marketing takeaways & a vibe check

Sunday, November 17, 2024

It was honestly our best year ever. Click here to read this on the web. Ann Handley's biweekly/fortnightly newsletter, "Total Annarchy" Ann on the B2B Forum Stage, Boston Welcome to Issue

Post-election chill for climate startups

Sunday, November 17, 2024

Market upswing should lift fund returns, food and beverage sector hungry for deals & more Read online | Don't want to receive these emails? Manage your subscription. Log in The Weekend Pitch

Brain Food: Obsessed

Sunday, November 17, 2024

FS | BRAIN FOOD November 17, 2024 | #603 | read on fs.blog | Free Version Welcome to Brain Food, a weekly newsletter full of timeless ideas and insights you can use in life and work. Tiny Thoughts *

Recruiting Brainfood - Issue 423

Sunday, November 17, 2024

Global Power 150 Women in Staffing, Levelling up in Cities, 1 x brilliant essay on the difference between RPA and AI Agents and inevitably some chat on the US Department of Government Efficiency... ͏ ͏

Drawbacks & competition increase conversions

Sunday, November 17, 2024

We asked you if you'd like to see a mature company that offers quality product sourcing from vetted USA and Canadian suppliers that's built exclusively for dropshippers and ecom store owners.

The Fed locked us out of the housing market, Satoshi gave us a new set of keys.

Saturday, November 16, 2024

To investors, ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

LUC #67: Unpacking Containerization: Transforming Software Development and Deployment

Saturday, November 16, 2024

Plus, API gateway vs load balancer, principles of OOP, and tokenization explained ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌