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Is Wired owned by Advance? The answer is yes. Condé Nast is a subsidiary of Advance. Advance has a 30 percent stake in Reddit.
This is why they call it “the Internet’s Greatest Authenticity Machine” because we know there’s nothing authentic about that cesspool. There’s even less authenticity behind a biased news article framing itself as disconnected from the subject. Not once do I see mention of Wired’s relationship to Reddit, if your owner has a 30% stake you should disclose that.
Edit: even more important is that Condé Nast itself acquired Reddit in 2006, which is where Advance’s significant stake comes from. Is that supposed to be inferred or understood prior to this article? News media needs to be accountable for this kind of reporting.
I believe they call that out in the article… the parentheses look like a late addition though?
Not only a late addition, but purposefully not clarified or explicitly stated at the beginning, or even at the end, of the article. This is like fine print, tucked into the content of the article so that you have to read the entire piece to get that information. Even then, if you are in the midst of the article you might not even consider how it impacts the framing. They also use distancing language there to avoid as much as possible connecting themselves to ownership.
Like, could you imagine this article ending on a ‘dont touch this dumpster fire of a stock’ line? Conde nast would not allow that.
The article was so glowing at the end it almost swayed me until that realization
Quick, how do we short it?