Publicis’s Levy: Too Many Companies Chasing Too Few Dollars Online
Why It’s Interesting: Even though this was published in early November 2007, I just came across it and found it to be even more relevant now given the economic landscape has worsened considerably. When the CEO of one of the most important advertising companies in the world (and one of the most tech-friendly) says that far too many companies are chasing too few dollars, makes reference to the first .com bust and calls Facebook’s valuation “insane” because it’s “unbalanced relative to the potential advertising value” of the service, it’s worth taking note.
Today’s episode of Drama’s Roundup will focus on the United States “economy.”
U.S. stocks sink on write-downs in financials
Why It’s Interesting: The central bank’s increasingly futile attempts to save the US economy are becoming more apparent. Although stocks jumped Thursday on the back of Ben Bernanke’s comments about “substantive additional action” and Bank of America’s buyout of tattered mortgage lender Countrywide (which you’ll be helping them finance), they were down again sharply on Friday on the back of more write-downs (including a possible $15 billion Merrill Lynch loss), signs of slowed consumer spending, a trade deficit and increasing predictions that a recession is going to occur.
Social Net Site Is Said to Be for Sale
Why It’s Interesting: As I noted in , Plaxo, a Silicon Valley darling that hasn’t figured out a way to turn a profit since its launch in 2002, has retained an investment bank to find a buyer. Yes, it appears that an increasing number of startups are being sold, not acquired. I’d personally bid $10 but I prefer companies that can figure out how to turn a profit after 5 years and an 8-figure amount of investment.
Why It’s Interesting: “Elite” universities such at MIT are increasingly making their courses available for free online. While viewers who aren’t students obviously don’t earn degrees, the availability of the same knowledge and course materials that are provided to paying students, many of whom go into substantial debt, is a good thing for individuals who take advantage of it. I’d argue that degrees are of value primarily because of alumni networks and that knowledge and skill can take a hungry individual even further than a degree can. Of course, I’m biased - Drama 2.0 did not attend university. I’ve simply befriended people who went to the best so I can tap into their alumni networks.
Why It’s Interesting: Research firm Basex Inc. estimates that disruptions caused by “information overload” cost the United States $650 billion every year. That’s right, even those useless employees who aren’t wasting time outright are apparently costing American employers hundreds of billions of dollars a year because of technology.
Why It’s Interesting: While I usually pay no attention to predictions except my own (including my personal non-predictions that get stolen by BusinessWeek), ad agency JTW’s “Eighty Things to Watch in 2008″ piqued my interest if for nothing more than its randomness (assisted marriage is the #3 thing to watch in 2008?). I guess next year I’m going to have to up the ante by listing 2009 things to watch in 2009.
It’s Christmas Eve and despite having just had eight nights of Hanukkah, I’m feeling a little left out of all the holiday fun. So I thought I’d post something on my blog to ease the pain of knowing that a fat guy who I could plausibly mistake for a burglar isn’t going to enter my home tonight and provide me with an opportunity to use my 12 gauge.
Last Chance to Nominate Startups For the Crunchies (Nearly 72,000 Entries So Far)
Why It’s Interesting: There are only 72,000 Web 2.0 wannabes. That means there’s still massive opportunity and a market ripe for fresh faces. If you don’t run your own Web 2.0 startup, what are you waiting for? Start two or three tomorrow and enter the Crunchies! I personally can’t wait to see the stars of Web 2.0 walking down the red carpet. “Here comes Mark Zuckerberg in classic-style Old Navy jeans and a pair of diamond-studded adidas flip-flops. He really puts Jason Calacanis, who looked horrible in that atrocious Mahalo outfit by CafePress, to shame.”
This episode of Drama’s Roundup contains some articles that are sure to spark interesting conversations at your Thanksgiving dinner. I’m hoping that some of you will be holding yours in Second Life this year (there’s less cleanup required and you can say whatever you want to your mother-in-law without fear of starting a family fist-fight).
Since First Life has never been busier for me and it’s impossible to knock out high-quality posts in as much volume and as rapidly as I would like, I’m starting a new series called Drama’s Roundup where I link to interesting articles I come across on the Internet (or that are forwarded to me by my trusted network of brilliant individuals). Some might serve as starting points for future posts.
A House That’s Just Unreal
Why It’s Interesting: The comment from the person who sent this to me says it all: “Talk about social interactions gone awry.” I never thought I’d ever read about a virtual naked conga line in the NY Times so this seems not only like an accurate assessment, but perhaps an understatement.