Posted on 02/14/2011 9:08:46 AM PST by jimbo123
Some of the fizz, if not a great big bubble, seems to have returned to media, depending on how you define “media.”
There have been reports in The New York Times and elsewhere that Facebook is now valued at $50 billion, and The Wall Street Journal reported that Twitter had been in low-level talks with both Google and Facebook, with some estimates putting the value of the company at $10 billion. Tumblr, the short-form blogging service, is storming along a similar, if more demure path, while Quora, a site built on user-generated questions and answers, seems to be on its way. And at the beginning of last week, The Huffington Post agreed to be sold for $315 million to AOL.
The funny thing about all these frothy millions and billions piling up? Most of the value was created by people working free.
(Excerpt) Read more at nytimes.com ...
If these "journalists" need a paycheck, they can work at McDonalds. The general public will pay cash money for a Big Mac and Fries. But not for their leftist "journalism" and "opinion".
Trudge off to your media collective farms and cheer the destruction of the kulaks while Arianna jets off to her new dacha.
And it boils down to ‘creating value’ something that is tradable and will raise the living standard of each party.
Leftisit dribble is always about how to get other people’s money rather than earned success. They’re so like an 8 year old.
The sites seem more like a utility to me, including this one.
I’m thinking this a set-up to another eventual round of government bailouts for O supporters.
Company value unrealistically inflated, comes a crash, value tumbles, government steps in declaring Facebook/Twitter/HuffPo “too big to fail”...begins writing checks...
Just explain that it’s “Trickle Up Economics” and all of the Obama worshipers will be happy.
Web 2.0 = Free Content (for the publisher)
FWIW, I used to publish a local mag back in the day and would have to pay the freelancers 50 bucks per article. I was 10 years too early. I’d still be in business with this model.
I don't think there is any way to objectively put a value on something that loses money and has to be kept alive by infusions of donated cash. The $315 million price tag is bogus, which makes me think there is some kind of budgeting gamesmanship being played, which I suppose would mean some kind of money laundering. Money is disappearing from one part of the balance sheet to reappear on another balance sheet, but I'm not so sure that everything is as it looks to the unaided eye.
We called Huffpo breahtless types “suckers” back in the day, they do the work, for free, she cashes the million dollar checks.
Every time I read about these “journalists” I think of a) Michael Yon and b) all the free publishing advice available on the internet.
Second, I have read blurbs on authors, bloggers, journalists that mentioned “contributor to The Huffington Post.” Is every article submitted to HuffPo accepted? If not, these people got something, an editor reviewed, accepted and published work on the CV or resume.
“contributor to The Huffington Post.”
Same thing as “Contributor to the septic tank”
:)
Exactly. The Vanguard of the Proletariat never wise up to the fact they are being played for suckers by their Heroes, and effectively so because of their timeless, blind desire to obtain something for nothing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.