INSIDE MEDIUM’S MELTDOWN: How an idealistic Silicon Valley founder raised $134 million to change journalism, then crashed into reality
Four days into 2017, Medium’s employees came to work and were told that one-third of them, 50 people, were fired.
They were shocked. Their adored boss, billionaire CEO Ev Williams, best known as the cofounder of Twitter, seemed to care so deeply for each of them.
But he told the world about the layoff in a blog post even before all the people who lost their jobs were informed, a former employee tells Business Insider.
Some of them found out through industry buzz that they had lost their jobs, one person told us.
“It comes down to how dysfunctional the place was,” one former employee told Business Insider. This person said that before they were let go, Medium was a “dream job.”
Medium, a blogging and publishing site, gained instant fame when it was launched in 2012 because of its well-known founder. Williams said its mission was to fix what he viewed as the broken world of journalism and create a new model.
But this latest change in its business plan — the company’s second — burnt some people so badly that industry insiders have growing doubts about Williams’ business judgment and are starting to say the company is his vanity project.
Before I link you to the rest of the article, understand I disagree with many points author Julie Bort makes. In fact, this almost feels like a hit piece. Having said that, this story would surface here quickly, so I wanted to be the first to bring it to you and, in your comments, perhaps some of you will step up and refute those portions you think incorrect or unfair.
Here’s the link.