If you go woke you will go broke—getting rid of your flagship product, personality, and brand is never a good idea.
Project Veritas made this fatal mistake when it ousted prominent investigative reporter James O’Keefe.
Reported that Veritas fell on hard times following the ouster of founder James O’Keefe from the investigative news outlet and that the entirety of the staff was fired by current Veritas CEO Hannah Giles.
Now, sources are reporting that the outlet has officially shut its doors; investigative reporter Bobby Harr claimed in this recent X post:
“Project Veritas suspends all operations effective immediately. CEO Hannah M. Giles and Jen Kiyak of Human Resources cite financial ruin as [the] reason for additional layoffs on 9/20/23 leaving merely a handful of employees left. All investigations halted as of today.”
BREAKING: Project Veritas suspends all operations effective immediately.
CEO @HannahMGiles and Jen Kiyak of Human Resources cite financial ruin as reason for additional layoffs on 9/20/23 leaving merely a handful of employees left.
All investigations halted as of today.
— Bobby Harr (@BobbyHReports) September 20, 2023
Earlier this month Daily Beast reported:
CEO Hannah Giles, who assumed leadership of Project Veritas after O’Keefe’s departure this year, told The Daily Beast that the company is considering a number of options to keep it solvent.
“I am streamlining and considering many cost-cutting measures to maintain the long-term sustainability of Project Veritas,” Giles told The Daily Beast on Tuesday.
“Our internal team will continue to produce the nation’s best investigative journalism.”
As you can imagine, reactions to Vertias were overwhelmingly negative after the outlet went woke and fired its founder and flagship personality James O’Keefe.
Project Veritas blew through their money faster than I thought they would. https://t.co/hT5ewAlDaM
— Tim Young (@TimRunsHisMouth) September 20, 2023
Project Veritas officially pulls the plug, according to reports. What a bizarre saga it’s been…
— Jordan Schachtel @ dossier.today (@JordanSchachtel) September 20, 2023
Project Veritas just suspended all operations and is reportedly in “financial ruin.”
Massive layoffs today.
Maybe firing James O’Keefe wasn’t the best business move?
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) September 20, 2023
Mediaite had more on the outlet’s woes:
Mediaite obtained audio from an August 22 meeting between Giles, Project Veritas board president Joe Barton, and several staffers.
At the meeting, held just days after 23 staffers were fired and two resigned, Giles can be heard explaining that the organization is in financial ruin.
“It’s devastating,” Giles said. “I’ve got to get back into the bank accounts to see what’s real and what’s not real because I have been getting presented with things that were not making sense and then when I’m presented with okay there’s only a thousand dollars left in the 501(c) (3) and I thought we had until October.
We did a half a million dollar transfer and that was this period. But, like, we’re bankrupt.”