Business Insider is comped. Badly. Henry Blodget is the CEO of BI. In 2003 he was fined $4 million and barred for life from trading. A couple of years later he was co-founder of tech publication Silicon Alley Insider.

Business Insider was started just before the financial crisis. In 2009 the company had less than 6 months cash. It secured a $1 million investment. This obviously worked out well, as the company was valued at $442 million in 2015 when Axel Springer bought a controlling interest for $343 million.

BI was a relatively decent source for financial information when it started. But it changed. It became a total shill for the Obama administration. You’ll be hard-pressed to find any negative coverage.

I quit reading some time before O’s second term. It was full of linkbait headlines and clickbait articles set up as slideshows. Social media buttons were like cancer. And coverage was biased and inflammatory. No one in the financial world took it seriously.

Explain to me how BI goes from the brink of bankruptcy in 2009 to a valuation of nearly half a billion in 6 years. Anyone who trusts BI as a source is not red-pilled at all, IMO.

sauce: https://www.wsj.com/articles/SB105149629161315900

more sauce: http://www.businessinsider.com/business-insider-sale-to-axel-springer-2015-11