Who is Right – Lars Lofgren or Forbes Marketplace?

The freelance writing world has seen its ups and downs throughout 2024. Business was booming throughout the first half of 2024. Then the Google Content Update decided that anonymous posts on Reddit and Quora were more authoritative than sites with well-documented experts. In the summer of 2024, clients started slowing down or stopping altogether. Some laid off big portions of their editorial staff… while others laid off entire teams. And the upcoming election further puts a hold on business investment since the country will head in two very different directions, depending on which candidate wins the presidency. Amid this chaos, Lars Lofgren flexed his investigative journalistic muscles to uncover a not-so-hidden secret about Forbes Marketplace that upended its business model. I discuss what happened and why it matters, and I make the case for who is right in this scenario.

*Disclosure: I have written for Forbes Marketplace, USA Today and CNN Underscored. I’ve also read “I’ll Teach You To Be Rich” and consumed other content that Lars was affiliated with when he worked for Ramit Sethi. I may receive revenue when clicking on affiliate links within this article (ex: Amazon links).

Gunnin’ for that #1 spot

Ok, this is a 2008 movie reference (Amazon link) about basketball. But being at the top of Google search results really is a big deal. Everyone wants to be the first link when a potential customer searches online. There’s big money to be made with links on the first page of search results… whether it’s Google, Bing or whichever search engine you prefer. If you’re in that top spot, you should be able to get more clicks on your affiliate links, sell more of your products or fill your sales funnel with potential leads.

Forbes Marketplace has absolutely dominated search rankings for a variety of keywords across numerous industries in a short timeframe. Growing up, Forbes was one of the first names in finance. Today, Forbes has exhibited expertise in places that have nothing to do with money… except for all of the cash they’re bringing in.

Google Content Update

The problem with being #1 is that everyone looks to knock the crown off the king. And when Google does an update to its search algorithms, you can quickly drop from #1 to off the first page entirely. This is especially true if they hit you with a manual penalty, which seems to be the case here. But why would that happen?

Every so often, Google updates its search algorithms to throw off companies “who’ve figured it out” and ensure that actual quality content rises to the top instead of someone who just knows how to game the system. Earlier this year, Google released its most recent update and threw the entire online search world into chaos.

You’ve probably seen it in your own search results. Random websites you’ve never heard of before. Online message boards like Reddit and Quora suddenly take over the top search results. While Google favors personal anecdotes in content, the best articles are still written (or reviewed) by actual experts and have a few expert quotes sprinkled in. There are plenty of experts on Reddit and Quora, but there’s no consistent way to know who the best ones are… and which ones are just making stuff up. Not to mention the need to sift through countless posts & threads to find the information you need.

Changes are coming soon to Google search results. Google fired the person in charge of the latest update. However, the people now in charge say that the affected sites should not expect to recover their lost traffic after the next algorithm updates. Translation: “We messed up. Fired the dude in charge. But we won’t admit the mistake, so you’ll have to suffer for a little while.”

Does anyone really believe that Reddit should be in the number one spot for Google Search Results?

What happened between Lars and Forbes?

In September, Lars wrote this article about Forbes Marketplace and its SEO dominance in numerous verticals that weren’t part of its normal expertise, its somewhat opaque leadership structure and its lack of disclosures. Lars followed it up with a similar article about CNN Underscored & USA Today about a week later. He continued his rant against Forbes’ strategy with an article about “Parasite SEO” in October.

This series of articles stunned the online world and led to Google making manual adjustments to punish those sites. Since then, Forbes and related sites have cut off freelance writer assignments and laid off whole teams of editors.

The case for Lars Lofgren

Lars Lofgren is an entrepreneur who has worked with several big names in the online world, including Neil Patel or “I Will Teach You To Be Rich.” He’s now the co-founder and Chief Growth Officer of Stone Press, and he blogs regularly at HR Advice.

• Forbes Marketplace lacked proper disclosures. Forbes doesn’t actually own Forbes Marketplace. And while its page looks very much like the main Forbes website, there are differences. Forbes Marketplace is a separate company that operates a subdomain off the main site. Google doesn’t like it when you hide important facts.
• Hidden connections between companies. In Lars’ first article, he points out how it’s difficult to track down who is actually operating the sites and how they’re involved in multiple companies. There’s nothing wrong with having your hands in multiple companies (I own several LLCs myself). But, it’s the lack of disclosures that is bothersome.
• Be good at one niche and stick to it. One of his big complaints is that Forbes Marketplace dominates search results across numerous industries that aren’t part of its core business. I understand the desire to have experts you can count on as a trusted source of information.

The case for Forbes

Forbes is a global media company that provides news and expert insights on business, investing, technology, business and other topics. It is well-known for its rankings, such as the Forbes 400 and Forbes 30 under 30. It was founded in 1917 as a print magazine, and it has evolved into an online powerhouse that reaches more than 94 million people worldwide on a monthly basis. Forbes outsourced some content creation to Forbes Marketplace, a company offering marketing and SEO expertise.

• Nothing wrong with success. Lars is upset that Forbes is dominating search results. Boo-hoo. It sounds like he’s just upset that Forbes figured out the algorithm and is offering quality content that readers want. Google is very good at demoting content that doesn’t meet “user intent” (aka: provide the right answers to a search). Just because Forbes is successful, this doesn’t make it bad. Like anything else in life, if someone is beating you, figure out how to do it better.
• Freelance writers bring needed expertise. It is absolutely true that Forbes itself doesn’t have the subject matter expertise on every subject or product. That is why it hires freelance writers. These experts bring their subject matter expertise and reputation to the reader to help them make an informed decision.
• Most readers don’t care who the CEO is. Readers don’t care who the executive team or ownership group is for most websites. Unless they’re worried about it being a scam website, most readers just want to make sure the information is correct and answers their questions.

How does freelance writing work?

In today’s world, freelancing and side hustles are the latest trend. After we emerged from COVID, there was a huge shift in the way people wanted to work. Workers want to be able to make their own hours and adjust their workload based on what’s happening in their lives. Working from home, a coffee shop or a beach in the Caribbean is not only possible as a freelancer but is also perfectly legit.

Most websites don’t have the budget to hire a large staff of writers. Writing and editing needs fluctuate regularly, and the ability to assign articles based on capacity not only fits their budget but also their business needs. Assigning articles to writers based on their expertise provides a better outcome than forcing a staff writer to be a “jack-of-all-trades and master of none.”

Freelance writers like me cobble together a collection of clients based on rates, quantity of assignments, topics and ease of working together. Having a diverse portfolio of clients smoothes out the fluctuating income from individual clients, and it buffers you against losing any one particular client at a time. Additionally, writing for different clients allows you to parlay your expertise among a multitude of topics to keep things exciting while also hedging your income based on how the business cycle affects different industries.

Lessons learned from this situation

No matter who you think is right, there are important lessons you can learn from this.

• Disclosures matter. Always err on the side of caution and disclose as much as possible.
• Have multiple sources of traffic. Even if you’re amazing at SEO, the next Google update could crush your business. I’ve heard so many stories over the last 12 years about people who built powerful sites whose traffic was annihilated when the next update hit. A few of the best ideas include building a social media following, creating an email list, starting a podcast, writing eBooks, offering a course and launching a YouTube channel.
• Experts matter. Whether you hire people to be staff writers & editors or outsource assignments to freelancers, quality content from trusted sources that solves a reader’s needs is key to building a lasting business.

The bottom line

I’m not sure what was in it for Lars to dig so deep into Forbes Marketplace. Maybe it was a personal vendetta, jealousy or hoping to go viral (which worked, by the way). Or maybe he wanted to be a hero to “victims” who didn’t realize these sites weren’t actually operated by staff at the namesake website. Nobody will ever really know what his true intentions were.

To be honest, every successful business supplements its efforts with outside help. Many hire consultants and temporary staff or outsource key functions of their business. Online content companies aren’t the only ones who do this. Brick-and-mortar companies do the same. And it’s a regular part of business. If you don’t have the expertise to do it in-house or enough of a need to hire a full-time person… outsource it. In my opinion, Forbes did nothing wrong here.

In fact, Lars himself proclaims to have “done online marketing consulting for hundreds of startups.” His current company, Stone Press, “manages and builds some of the largest B2B sites on the internet.” Should these clients announce to their customers that they didn’t do all the work in-house? Should their Google search results be penalized because they outsourced portions of their business?

Yes, Forbes Marketplace should have been more forthcoming about outsourcing content creation to another company. Does it deserve the “Google Death Penalty” and have all of its quality content demoted in search results? No. Readers clicked the search result links, found the information useful and clicked affiliate & product links. That generated revenue that rewarded Forbes Marketplace for its useful efforts. Until recently, everyone was happy… except Lars.