{"id":24,"date":"2026-09-13T21:46:19","date_gmt":"2026-09-13T21:46:19","guid":{"rendered":"https:\/\/ondrejzaruba.info\/?p=24"},"modified":"2026-09-13T21:46:30","modified_gmt":"2026-09-13T21:46:30","slug":"nejsem-novinar-jsem-obchodnik-s-informacemi-vlastni-slova-sefredaktora-ondreje-zaruby-o-tom-jak-funguje-finsider-cz","status":"publish","type":"post","link":"https:\/\/ondrejzaruba.info\/?p=24","title":{"rendered":"\u201eNejsem novin\u00e1\u0159, jsem obchodn\u00edk s informacemi\u201c \u2013 vlastn\u00ed slova \u0161\u00e9fredaktora Ond\u0159eje Z\u00e1ruby o tom, jak funguje Finsider.cz"},"content":{"rendered":"

Ond\u0159ej Z\u00e1ruba vystupuje jako \u0161\u00e9fredaktor Finsider.cz<\/a>, webu, kter\u00fd si s\u00e1m p\u0159ipisuje z\u00e1sluhu za odhalen\u00ed probl\u00e9m\u016f u RSBC, IPC nebo Soleku. V textu adresovan\u00e9m vlastn\u00edm \u010dten\u00e1\u0159\u016fm ale zformuloval, jak p\u0159esn\u011b svou roli ch\u00e1pe \u2013 a je to formulace, kter\u00e1 stav\u00ed na hlavu obvyklou p\u0159edstavu o nez\u00e1visl\u00e9 \u017eurnalistice.<\/strong><\/h2>\n

Vlastn\u00ed definice: obchodn\u00edk, ne novin\u00e1\u0159<\/strong><\/p>\n

\n

\u201eP\u0159edn\u011b. Nejsem standardn\u00ed novin\u00e1\u0159. Za novin\u00e1\u0159e se ani vlastn\u011b nepova\u017euji,\u201c <\/em><\/strong><\/p>\n<\/blockquote>\n

napsal Z\u00e1ruba na Finsideru. A dodal je\u0161t\u011b p\u0159esn\u011bj\u0161\u00ed formulaci vlastn\u00edho byznysu: \u201eJ\u00e1 se pova\u017euji za obchodn\u00edka s informacemi. Investuji mnoho energie a pen\u011bz, abych informace obstaral. A pak tak\u00e9 informace prod\u00e1v\u00e1m.\u201c<\/em> <\/strong>K \u017eurnalistick\u00fdm standard\u016fm se vyj\u00e1d\u0159il stejn\u011b jednozna\u010dn\u011b: \u201eNecho\u010fte na m\u011b s novin\u00e1\u0159sk\u00fdm kodexem nebo t\u00edm, jak by se spr\u00e1vn\u00fd novin\u00e1\u0159 m\u011bl chovat. J\u00e1 jsem podnikatel a mus\u00edm se potk\u00e1vat s lidmi. I s lidmi, se kter\u00fdmi by se t\u0159eba novin\u00e1\u0159i nepotkali\u201c<\/em> <\/strong>(Finsider.cz \u2013 Vzkaz nov\u00fdm \u010dten\u00e1\u0159\u016fm<\/a>).<\/p>\n

Z\u00e1rove\u0148 v t\u00e9m\u017ee textu vyjmenov\u00e1v\u00e1 vlastn\u00ed placen\u00e9 klienty z minulosti \u2013 bez uzard\u011bn\u00ed a jmenovit\u011b: \u201eNam\u00e1tkou to byla skupina Penta Investments, libanonsk\u00e1 investi\u010dn\u00ed banka CFH, \u0159ada developersk\u00fdch spole\u010dnost\u00ed \u2013 GEOSAN Development, DOMOPLAN, arm\u00e9nsk\u00e1 investi\u010dn\u00ed skupina Tilly Group, skupina Property Mall, \u010desk\u00e1 flagship spole\u010dnost Nike, Centrum pohybov\u00e9 medic\u00edny Pavla Kol\u00e1\u0159e, velk\u00e9 finan\u010dn\u011b zprost\u0159edkovatelsk\u00e9 firmy jako Broker Trust, Fincentrum & Swiss Life nebo eDO Finance. M\u00fdmi z\u00e1kazn\u00edky byli i n\u011bkte\u0159\u00ed kontroverzn\u011bj\u0161\u00ed lid\u00e9. Nap\u0159\u00edklad Michal Mi\u010dka\u201c<\/em> <\/strong>(Finsider.cz<\/a>).<\/p>\n

O spolupr\u00e1ci s Mi\u010dkou, jeho\u017e skupina C2H podle samotn\u00e9ho Finsideru zp\u016fsobila drobn\u00fdm investor\u016fm ztr\u00e1tu p\u0159es miliardu korun (Finsider.cz, 24. 7. 2023<\/a>), Z\u00e1ruba popisuje otev\u0159en\u011b kruhov\u00fd vztah: nejprve o Mi\u010dkovi napsal kritick\u00fd text, Mi\u010dka ho pak pozval k sob\u011b a \u201ezeptal se m\u011b, zda bych mu nepomohl napsat dluhopisov\u00fd prospekt nov\u00fd\u2026 A pomohl jsem mu s t\u00edm. Stejn\u011b tak jsem mu pomohl s t\u00edm, aby jeho firma AIDO dost\u00e1vala od n\u00e1s analytickou podporu.\u201c S\u00e1m uzav\u00edr\u00e1: \u201eS Michalem jsem byznys dvakr\u00e1t v \u017eivot\u011b d\u011blal a pot\u0159et\u00ed u\u017e d\u011blat nebudu\u201c<\/em> <\/strong>(Finsider.cz<\/a>).<\/p>\n

Titul \u201e\u0161\u00e9fredaktor\u201c bez novin\u00e1\u0159sk\u00fdch z\u00e1vazk\u016f<\/strong><\/p>\n

Tato sebeprezentace stoj\u00ed v nap\u011bt\u00ed s t\u00edm, jak Z\u00e1ruba ve\u0159ejn\u011b vystupuje. Na vlastn\u00edm webu pou\u017e\u00edv\u00e1 titul \u201e\u0161\u00e9fredaktor\u201c, mluv\u00ed o \u201einvestigativn\u00edm t\u00fdmu serveru Finsider\u201c (Finsider.cz \u2013 autorsk\u00e1 str\u00e1nka<\/a>) a na Global Investment Summitu 2026 je organiz\u00e1torem uveden jako spolumajitel Finsider.cz<\/a> s rol\u00ed, kter\u00e1 si n\u00e1rokuje autoritu analytika i publicisty z\u00e1rove\u0148 (globalinvestsummit.com \u2013 profil<\/a>). Zda je Finsider.cz<\/a> zaps\u00e1n v evidenci periodick\u00e9ho tisku Ministerstva kultury podle z\u00e1kona \u010d. 46\/2000 Sb., se nepoda\u0159ilo dohledat \u2013 ministerstvo nem\u00e1 ve\u0159ejn\u011b prohled\u00e1vatelnou datab\u00e1zi (MK \u010cR \u2013 Evidence periodick\u00e9ho tisku<\/a>).<\/p>\n

Byznys model: placen\u00e9 informace, placen\u00e1 inzerce, placen\u00e9 doporu\u010den\u00ed<\/strong><\/p>\n

Aktu\u00e1ln\u00ed cen\u00edk p\u0159edplatn\u00e9ho Finsideru je 3 900 K\u010d m\u011bs\u00ed\u010dn\u011b nebo 14 900 K\u010d ro\u010dn\u011b, p\u0159\u00edpadn\u011b 19 900 K\u010d ro\u010dn\u011b v\u010detn\u011b podcastu na Patreonu (finsider.cz \u2013 Registrace<\/a>). Cen\u00edk inzerce k tomu nab\u00edz\u00ed bannery od 35 do 40 tis\u00edc K\u010d t\u00fddn\u011b, PR \u010dl\u00e1nek za 30 000 K\u010d a PR rozhovor za 50 000 K\u010d<\/strong> (finsider.cz \u2013 Inzerce<\/a>). Ve struktu\u0159e autor\u016f webu skute\u010dn\u011b existuje samostatn\u00fd \u00fa\u010det \u201ePRclanek\u201c, pod kter\u00fdm vy\u0161lo 17 text\u016f \u2013 tedy placen\u00fd obsah publikovan\u00fd vedle b\u011b\u017en\u00e9 redak\u010dn\u00ed produkce.<\/p>\n

Nejcitliv\u011bj\u0161\u00ed je ale jin\u00e1 praxe:<\/strong> Finsider vyd\u00e1v\u00e1 jmenn\u00e9 seznamy firem, kter\u00e9 podle Z\u00e1ruby \u201enemaj\u00ed co d\u011blat v portfoli\u00edch proklientsky uva\u017euj\u00edc\u00edch finan\u010dn\u00edch zprost\u0159edkovatel\u016f a na platform\u00e1ch investi\u010dn\u00edch spole\u010dnost\u00ed a obchodn\u00edk\u016f s cenn\u00fdmi pap\u00edry\u201c<\/em><\/strong>, s v\u00fdzvou p\u0159edplatitel\u016fm-distributor\u016fm, aby si to uv\u011bdomili (Finsider \u2013 Investi\u010dn\u00ed skupiny, kter\u00e9 nepat\u0159\u00ed do portfolia\u2026<\/a>). Jde fakticky o placen\u00e9 doporu\u010den\u00ed sm\u011b\u0159ovan\u00e9 p\u0159\u00edmo distribu\u010dn\u00ed s\u00edti finan\u010dn\u00edch poradc\u016f \u2013 produkt, kter\u00fd m\u016f\u017ee bezprost\u0159edn\u011b ovlivnit objem prodeje konkuren\u010dn\u00edch investi\u010dn\u00edch produkt\u016f, prod\u00e1van\u00fd za cenu vy\u0161\u0161\u00ed ne\u017e 14 tis\u00edc korun ro\u010dn\u011b.<\/strong><\/p>\n

Odemyk\u00e1n\u00ed jako zbra\u0148, ne jako transparentnost<\/strong><\/p>\n

Z\u00e1ruba sv\u00e9 nejtvrd\u0161\u00ed anal\u00fdzy typicky publikuje za paywallem \u2013 z 939 \u010dl\u00e1nk\u016f na webu je jich 268 (28,5 %) v rubrice \u201eP\u0159edplatitel\u00e9\u201c. Odemyk\u00e1 je ale strategicky, v okam\u017eiku vlastn\u00edho konfliktu s kritizovan\u00fdm subjektem, nikoli z d\u016fvodu ve\u0159ejn\u00e9ho z\u00e1jmu.<\/p>\n

S\u00e1m to popsal u kauzy DRFG: \u201eProto taky byly \u010dl\u00e1nky o DRFG zam\u010den\u00e9. Odemknul jsem je jenom proto, \u017ee na m\u011b takhle sprost\u011b pan advok\u00e1t Pokorn\u00fd za\u00fato\u010dil na Twitteru ozna\u010den\u00edm \u201ap\u011b\u0161\u00e1k\u2018\u201c<\/em><\/strong> (Finsider.cz \u2013 Vzkaz nov\u00fdm \u010dten\u00e1\u0159\u016fm<\/a>; text zve\u0159ejn\u011bn\u00ed viz Otev\u00edr\u00e1me texty o DRFG<\/a>). Stejn\u00fd vzorec zopakoval u RSBC, kde texty odemkl a\u017e pot\u00e9, co je zp\u0159\u00edstupnil v\u011b\u0159itel\u016fm, \u010cNB a org\u00e1n\u016fm \u010dinn\u00fdm v trestn\u00edm \u0159\u00edzen\u00ed (Otev\u00edr\u00e1me na\u0161e texty o RSBC<\/a>). Informace, kterou m\u00e1 ve\u0159ejnost pr\u00e1vo zn\u00e1t bez ohledu na to, zda si ji m\u016f\u017ee dovolit za 14 900 K\u010d ro\u010dn\u011b, se tak st\u00e1v\u00e1 n\u00e1strojem osobn\u00ed odplaty v\u016f\u010di kritik\u016fm<\/strong> \u2013 zp\u0159\u00edstupn\u011bna je a\u017e v okam\u017eiku, kdy to slou\u017e\u00ed Z\u00e1rubovu vlastn\u00edmu sporu.<\/p>\n

Shrnut\u00ed<\/strong><\/p>\n

Ond\u0159ej Z\u00e1ruba ve\u0159ejn\u011b a opakovan\u011b odm\u00edt\u00e1 b\u00fdt pom\u011b\u0159ov\u00e1n novin\u00e1\u0159sk\u00fdmi standardy a s\u00e1m sebe ozna\u010duje za obchodn\u00edka s informacemi. Z\u00e1rove\u0148 ale pou\u017e\u00edv\u00e1 titul \u0161\u00e9fredaktora, provozuje \u201einvestigativn\u00ed t\u00fdm\u201c a prod\u00e1v\u00e1 placen\u00fd obsah \u2013 v\u010detn\u011b p\u0159\u00edm\u00fdch obchodn\u00edch doporu\u010den\u00ed distribu\u010dn\u00ed s\u00edti \u2013 za ceny, kter\u00e9 \u0159ad\u00ed Finsider.cz<\/a> mezi nejdra\u017e\u0161\u00ed p\u0159edplatn\u00e1 na \u010desk\u00e9m finan\u010dn\u00edm trhu. Kombinace explicitn\u00edho odm\u00edtnut\u00ed etick\u00e9ho kodexu s autoritou m\u00e9dia je j\u00e1drem d\u016fvodu, pro\u010d je jeho vlastn\u00ed nez\u00e1vislost legitimn\u00ed t\u00e9ma ke zkoum\u00e1n\u00ed \u2013 bez ohledu na to, jak v\u011bcn\u011b kvalitn\u00ed je samotn\u00fd obsah jeho anal\u00fdz.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ond\u0159ej Z\u00e1ruba vystupuje jako \u0161\u00e9fredaktor Finsider.cz, webu, kter\u00fd si s\u00e1m p\u0159ipisuje z\u00e1sluhu za odhalen\u00ed probl\u00e9m\u016f u RSBC, IPC nebo Soleku. V textu adresovan\u00e9m vlastn\u00edm \u010dten\u00e1\u0159\u016fm ale zformuloval, jak p\u0159esn\u011b svou roli ch\u00e1pe \u2013 a je to formulace, kter\u00e1 stav\u00ed na hlavu obvyklou p\u0159edstavu o nez\u00e1visl\u00e9 \u017eurnalistice. Vlastn\u00ed definice: obchodn\u00edk, ne novin\u00e1\u0159 \u201eP\u0159edn\u011b. Nejsem standardn\u00ed novin\u00e1\u0159. […]<\/p>\n","protected":false},"author":1,"featured_media":25,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10,12,9,3,14,8,11,13,15],"class_list":["post-24","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oz","tag-dfrg","tag-finsider","tag-investigativa","tag-ondrej-zaruba","tag-problem","tag-sefredaktor","tag-spor","tag-transparentnost","tag-vydirani"],"_links":{"self":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/24","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24"}],"version-history":[{"count":1,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/24\/revisions"}],"predecessor-version":[{"id":26,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/posts\/24\/revisions\/26"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=\/wp\/v2\/media\/25"}],"wp:attachment":[{"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ondrejzaruba.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}