> BTW, I approached ABC about buying back the former FiveThirtyEight IP*, and they said they wouldn't sell at any price because I'd criticized their management of the brand.
ABC's shareholders are Disney. Whatever Nate offered them isn't even a rounding error in Disney's $36 billion dollars in profits last year. The shareholders aren't going to care.
It's not that a shareholder won't care, but that the modern US company is such a large basket of businesses, it's impossible to put any pressure on a random business unit throwing money away. So, in practice, there's very little pressure to do things right, and a lot of pressure to do what your boss prefers, whether it actually helps the company's profitability or not. There can be negatives if you are doing massive damage to the company's image, but even then, ABC has done more than a little bit of that over the last couple of years to no ill effects. Just ask Kimmel.
If they feel it's damaging to have it public, then it could be argued that selling it would be irresponsible. I'm not arguing it is or it isn't, but reputation has value and management of it is part of what shareholders expect.
the easy argument otherwise would be that if they sold the IP, they wouldnt be able to revive it in the future, and also they would have nate silver as a competitor in the space
No. People have weird beliefs about what fiduciary duty means. It does not mean that companies are required at all intervals to maximize revenue or profit.
Dunno - is protecting yourself from high-profile criticism by doing whatever you want with assets you 100% own and are under no contractual obligation to share ... also in fiduciary duty?
Really sad to see some of the best visualizations I've ever seen in my life being taken down. I've easily spent hours exploring playing with their gun deaths visualization, p-hacking piece, gut microbiome explorable explainer and many others.
It's wild to me how often I see corporate America both:
1. Spend immense amounts trying to build and improve a brand.
2. Toss well known brands aside as if they are useless.
Not that it's always the same company doing both at the same time, but it's crazy 538 was just left to die. It was a very recognizable brand among wonky professionals, a very desirable customer base. It's not as if politics and sports have gotten less relevant in the world over the past decade. ABC's decision to toss this aside is baffling.
Much of the 538 alumni seem to be doing well, either independently or as part of a major organization, so I don't think much was lost overall. But I sure empathize with the folks who lost their dream job and ABC looks pretty bad for frittering away a successful business for seemingly no reason. Taking down these articles is nonsensical.
this is what the salesforces of the world do to startups every day. it is so painful to watch. billions upon billions wasted for just the stupidest possible reasons.
538 was fun while it lasted. The podcasts were also a good listen.
Things got worse after Disney had their first round of layoffs. Their problem was they weren't profitable outside the presidential election years when interest peaked in the general public. 3 out of 4 years only diehard election polling wonks tuned in.
That's kind of already happened though. Nate and Galen have both launched Substack's covering much of what they did at 538. I've also seen at least 4-5 others working elsewhere doing the similar polling/politics/sports work.
Maybe that was the logic on ABC's part but it's ridiculously wrong given how much clear market demand there is for the 538 people and content.
I don't understand why Nate doesn't just start SixFortyNine and does it all over again. In the end, what ABC owns is just a name - which was always kinda stupid and even hard to spell - and a bunch of obsolete content.
Tangential: I miss Nate and Maria Konnikova's Risky Business podcast. It only lasted a year (or two?).
I expected it would be resurrected outside the Pushkin network, but hasn't happened yet.
What I _don't_ miss is listening to podcasts on Pushkin. I had nothing against Malcolm Gladwell, but something about having his voice on every one of the network's very numerous ads became incredibly grating.
I enjoyed the old 538 podcast and usually like Nate's work but didn't care at all about Risky Business. His cohost was terrible in the episodes I listened too. She managed to do a lot of talking without saying anything interesting or insightful.
Gladwell also annoys me, so that didn't help matters.
Was 538 ABC's property during the first Trump election? IIRC they took a pretty big credibility hit after getting that election so wrong and never really recovered.
No idea. ABC bought it and slowly has been shutting down the parts of it. They got rid of the projects page, then laid off all the folks working on it after the election, and now have gotten rid of all of the articles.
538 had a really accessible portal that evaluated the quality of pollsters. It made it very easy to know which polls were low-quality and therefore ignorable. It being an election year, it’s possible someone didn’t like their pollster rating. Thankfully, we still have Internet Archive.
Edit: nm it was definitely the burrito battle royale bracket. Big burrito couldn’t handle the truth being revealed about their restaurants.
No. The 'old school' hated 538 and polling wonks in general. Back in the 2000s there was a huge push back because this blog guy had numbers going against whatever narrative they were trying spin.
I feel like it proves the opposite. A small entity was able to become a valued source of information, a big entity bought it, but then was unable to do anything with it, since being a “big” media seller does not matter due to the accessibility of the internet.
Yeah they sure were bad at predictions. If only they had aggregated all their predictions and compared them to how things actually turned out in one easy assess location. That sure would have been useful..... [0]
The 70:30 prediction against Trump was far better than most. I did see models back then that considered the state polls mostly or entirely uncorrelated, and those produced obviously garbage with 90% or even 99% in favor of Clinton.
But in the end people pick on Nate because he really enjoys being an asshole on the internet. It's far more about when he acts as a pundit, not as an expert on statistics.
I kind of fell off the Nate Silver train toward the end of Trump's first term (so deep in the COVID-19 era...). It feels like around that time 538 shifted heavily away from raw statistics and into punditry, and they seemed less unique among the various political blogs.
Where Presidential politics is concerned, I think it's less a case of misunderstanding probabilities and more the success of party propaganda. Every victory is a landslide with a resounding mandate from the populace, every defeat a crushing humiliation and repudiation of your opponent's Unamerican ideals.
Those predictions all became worthless anyway when Comey reopened the "emails" issue right before the election and threw fresh meat to all the stupid people who ate that up.
--Nate Silver (538 founder)
ABC seem pretty petty here.
Any exec who operates that way should be shown the door ASAP as they are likely doing similar emotional management of other aspects of the business.
https://www.macrotrends.net/stocks/charts/DIS/disney/net-inc...
Not that it's always the same company doing both at the same time, but it's crazy 538 was just left to die. It was a very recognizable brand among wonky professionals, a very desirable customer base. It's not as if politics and sports have gotten less relevant in the world over the past decade. ABC's decision to toss this aside is baffling.
Much of the 538 alumni seem to be doing well, either independently or as part of a major organization, so I don't think much was lost overall. But I sure empathize with the folks who lost their dream job and ABC looks pretty bad for frittering away a successful business for seemingly no reason. Taking down these articles is nonsensical.
Things got worse after Disney had their first round of layoffs. Their problem was they weren't profitable outside the presidential election years when interest peaked in the general public. 3 out of 4 years only diehard election polling wonks tuned in.
If Nate Silver buys it back (for pennies on the dollar) and then makes it successful, it's embarrassing and makes ABC look bad at business.
Maybe that was the logic on ABC's part but it's ridiculously wrong given how much clear market demand there is for the 538 people and content.
i was a casual reader of 538 back in the day. his substack feels pretty similar, if smaller in scope.
I expected it would be resurrected outside the Pushkin network, but hasn't happened yet.
What I _don't_ miss is listening to podcasts on Pushkin. I had nothing against Malcolm Gladwell, but something about having his voice on every one of the network's very numerous ads became incredibly grating.
Gladwell also annoys me, so that didn't help matters.
https://xcancel.com/NateSilver538
Fortunately the Github is still up: https://github.com/fivethirtyeight
I need to mirror everything to keep it accessible when they decide to shut this down, too?
I loved that site, and referred people to it frequently.
ABC officially sunset 538 over a year ago (and laid off most/all of the staff).
Edit: nm it was definitely the burrito battle royale bracket. Big burrito couldn’t handle the truth being revealed about their restaurants.
All this proves is when the press was deregulated to allow one person to own all the media they can afford brought us were we are now.
[0] https://web.archive.org/web/20250306183754/https://projects....
They had a good article about how their predictions were much better than you'd expect, but obviously I can't link it anymore because ABC removed it.
But in the end people pick on Nate because he really enjoys being an asshole on the internet. It's far more about when he acts as a pundit, not as an expert on statistics.