Cracked and how not to run a media company

Cracked quietly laid off its entire video production team and most of its staff over the Christmas break, taking its core product with it, along with the writers, actors and personalities that made it famous in the first place. If it still expects to profit on margins, it’s in for a rude shock. Why would its key audience return to the site, knowing it has been stripped for its parts? These job losses are a cautionary tale for how not to run a media company. Its lessons apply as much to founders as investors.