Hard times are here for news sites and social media. Is this the end of Web 2.0?
A steep decline in advertising is forcing an historic shakeup in digital news and social media, and leading some to imagine navigating the internet without the likes of Google or Facebook.
Vice is slashing staff and closing its flagship broadcast program, Vice News Tonight. BuzzFeed News is shutting down. Vox recently laid off nearly 10% of its staff. Gawker went out of business, again, in February.
It has been trying times for digital media. And there are no signs of when the punishing developments will let up.
The turmoil caused by an historic slowdown in digital advertising is sparking worries among staff at online media companies about further and possibly deeper cuts beyond the mass layoffs and abrupt closures over the last few months.
"I think the current moment is the product of both a huge shift"But readers and viewers still want to understand the world."
