Since correcting Cory’s headlines is a bit of a fad, isn’t the story here really:
Gawker alumni are crowdfunding to force Peter Thiel to pay more than $500k for control of Gawker’s assets?
Maybe the auction doesn’t work this way, but if they raise $500k, can’t he just pay $600k? I don’t even know if that makes much of a difference to him. I honestly think that the total free cash available to everyone with any interest in this cause is probably less than the total free cash available to Thiel.
I’d like to know what the Gawker alumni are planning to do with the money they raise in the event they are outbid. It’s possible a better headline might be:
Gawker alumni would like your money.
