(There seems to be lots of use for the word meltdown these days.) I watched in disbelief the building hoopla last week over the Facebook “initial public offering.” That’s easy to say now, I guess, with the stock seemingly on its way to a long and deep decline, but the reason I didn’t comment in advance is because I felt I’d said it all over a year ago about the decline of MySpace. Some of the words that look so amazingly wise in hindsight are these: Continue reading Facebook meltdown
The MySpace networking/media sharing/something-or-other web-based outfit is reported to have lost 10 million users between January and February of this year. I sympathize; I’d hate that to happen to THE CINCH REVIEW. (Fortunately our numbers are continuing to trend strong here.) A story in the U.K. Telegraph includes this factoid:
News Corporation bought MySpace for $580m (£373m) in 2008. The asset was briefly valued at $12bn when News Corp attempted to merge it with Yahoo in 2007.
This is a little bit of a tired old hobby-horse for me — although not necessarily in print before now — but: When the hell are people going to learn not to place such absurd value on these ephemeral internet entities? Continue reading MySpace getting roomier; soon to be renamed OpenSpace