$200M INDIAN AI ACQUISITION SCRAPPED AFTER ITS NUMBERS UNRAVELED
Minute Media, the publisher of Sports Illustrated, laid off 12% of their staff today.
They also unwound their $200M acquisition of Indian AI startup VideoVerse, a deal they closed just eight months ago, citing "significant gaps in VideoVerse's presentations."
Founded in Mumbai in 2016 as Toch AI by Saket Dandotia, Vinayak Shrivastav, and Alok Patil (pictured), they rebranded to VideoVerse in 2022.
To close the deal with Minute Media, VideoVerse reportedly claimed about $65M revenue with 35-40% EBITDA margins, which is why Minute Media was willing to pay 200M.
The catch: VideoVerse's most recent publicly filed revenue, for FY23, was about 233K. If true, that is a gap of nearly 280x between the pitch and reality. The "inconsistencies" were not publicly disclosed, though, so we may never know.
They bought first and found out later.
Yikes.
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Minute Media, the publisher of Sports Illustrated, laid off 12% of their staff today.
They also unwound their $200M acquisition of Indian AI startup VideoVerse, a deal they closed just eight months ago, citing "significant gaps in VideoVerse's presentations."
Founded in Mumbai in 2016 as Toch AI by Saket Dandotia, Vinayak Shrivastav, and Alok Patil (pictured), they rebranded to VideoVerse in 2022.
To close the deal with Minute Media, VideoVerse reportedly claimed about $65M revenue with 35-40% EBITDA margins, which is why Minute Media was willing to pay 200M.
The catch: VideoVerse's most recent publicly filed revenue, for FY23, was about 233K. If true, that is a gap of nearly 280x between the pitch and reality. The "inconsistencies" were not publicly disclosed, though, so we may never know.
They bought first and found out later.
Yikes.
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Three female police officers walk up to a man sitting on a barrier and tell him he’s under arrest. He stands up, casually shrugs off the attempt to restrain him, and jogs away while they make a half-arsed comical chase.
This is British policing in 2026.
How embarrassing is this?
These are the people you’re supposed to call when you’re in trouble.
You’re meant to feel safe knowing that you can rely on them.
When forces lower physical standards, dropping the bleep test requirement from 5.4 to 3.7 in many forces, removing the upper body strength test entirely in 2016, and prioritising diversity targets and recruitment numbers over real competence this is exactly what you get. Public safety becomes optional.
Get rid of DEI.
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This is British policing in 2026.
How embarrassing is this?
These are the people you’re supposed to call when you’re in trouble.
You’re meant to feel safe knowing that you can rely on them.
When forces lower physical standards, dropping the bleep test requirement from 5.4 to 3.7 in many forces, removing the upper body strength test entirely in 2016, and prioritising diversity targets and recruitment numbers over real competence this is exactly what you get. Public safety becomes optional.
Get rid of DEI.
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Fewer Americans believe in manmade climate change than in 2019 and 2022.
Things change when people are no longer bombarded 24/7 with climate alarmism propaganda.
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Things change when people are no longer bombarded 24/7 with climate alarmism propaganda.
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US corporate revenues have never been this concentrated:
The top 1% of US firms by sales now account for a record ~82% of all corporate revenues.
This percentage has risen +22 points since the 1950s.
The top 20 firms alone account for a record 50% of all US corporate sales.
Concentration has increased +10 percentage points since the 1980s.
At the same time, corporate profits after tax as a proportion of US GDP stand at 12%, near an all-time high and more than double 2001 levels.
This means a shrinking number of companies are capturing a growing proportion of both revenues and profits across the entire economy.
The market and economy have never been more concentrated.
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The top 1% of US firms by sales now account for a record ~82% of all corporate revenues.
This percentage has risen +22 points since the 1950s.
The top 20 firms alone account for a record 50% of all US corporate sales.
Concentration has increased +10 percentage points since the 1980s.
At the same time, corporate profits after tax as a proportion of US GDP stand at 12%, near an all-time high and more than double 2001 levels.
This means a shrinking number of companies are capturing a growing proportion of both revenues and profits across the entire economy.
The market and economy have never been more concentrated.
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The White House has raised the refugee cap by 10,000 to admit additional White South Africans this year
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17,500 illegal immigrants have been deported to countries that aren’t their own by the second Trump administration—and the number is increasing at an accelerating pace
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NOW - Massive explosion as Blue Origin's New Glenn rocket explodes on Cape Canaveral during a launch pad test firing
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BIG: Russian drone strike reported inside Romania
A residential apartment building was hit, leaving civilians wounded and triggering a huge blaze.
With Romania being a NATO member, fears are growing that Moscow is pushing the alliance’s red lines.
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A residential apartment building was hit, leaving civilians wounded and triggering a huge blaze.
With Romania being a NATO member, fears are growing that Moscow is pushing the alliance’s red lines.
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NOW: "Kill yourself!" Anti-ICE protesters chant during lengthy stand offs with ICE agents outside Delaney Hall NJ
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Man defends himself against 5 aggressive dogs by picking up the one that bit him and swinging it at the other dogs.
Do you think the dogs deserved it?
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Do you think the dogs deserved it?
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BREAKING : BlackRock ETF sold $177,950,000 worth of Bitcoin.
Nearly $2 Billion flowed out of the fund in the last 9 days.
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Nearly $2 Billion flowed out of the fund in the last 9 days.
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