Following the lead of Goldman Sachs, yeah I can’t believe I typed that either, a second investment firm is unloading their stake in Village Voice Media over concerns of Backpage and human trafficking.
Trimaran Capital Partners has said that they are selling their single-digit stake in VVM because it is uncomfortable the direction the company has taken.
Of course, VVM and their team of legal weasels are trying to make it out like they’re the solution to the problem they’re causing…
“Corporate distance is not a solution to the heinous problem of human trafficking within the United States, but it makes it easier to ignore and to deny the opportunity — and the moral obligation — to help fight it,” Elizabeth McDougall, an attorney for Village Voice Media, said.
“If stakeholders are uncomfortable with the pressure of doing the right thing, they can always opt out,” McDougall wrote in an email response to questions about potential investor discomfort over its adult classified ads.
You’re kidding me, right? Corporate distance is exactly what this problem needs to help combat it and is Goldman Sachs’ and Trimaran Capital’s moral obligation. By withdrawing their support it sends a clear message to VVM that their policies of promoting Backpage like it’s some beacon of free speech instead of a slave market will not be tolerated.
I’m beginning to wonder if VVM is some kind of cult since all their spokespeople keep repeating the same brainwashed sounding mantra. Logically I know it’s just simple greed.