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That's terrible.


What's Gigaom?
 

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It's the only news media site that cared about reporting breaking news in the publishing world, digital or otherwise, without extreme bias (*cough* Washington Post and NYT) Myra. Plus they often did relevant research and knew what they were talking about.

I looked forward this person's reports - http://search.gigaom.com/author/laurao/

https://gigaom.com/2015/02/26/barnes-noble-is-splitting-up-its-businesses/

https://gigaom.com/2014/07/01/one-of-amazons-best-books-of-the-month-is-a-hachette-title-that-you-cant-pre-order/
 

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In 2008, our company decided that we would not pray at the altar of pageviews and advertising metrics that do nothing but devalue our readers time and attention," Malik wrote in a post on February 20, 2014.
So you took on a bunch of debt (which you almost certainly had to personally guarantee) with no viable income stream. Well done.

Welcome to Dotcom 2.0. My name is Kelli and I'll be your flight attendant this evening. Emergency exits are located in the front, rear, and over each wing. If you currently hold tech stocks with PE ratios nearing infinity which haven't made a dime since their initial offerings, you might want to start thinking about those exits now. In the event of a water landing your seat cushion may be used as a flotation device - until the giant vampire squid frontruns you and then drags you screaming beneath the waves. We do provide complimentary airsickness bags - you're in for a bumpy ride and you'll probably need them.

I want to thank you for flying Dotcom 2.0, and remember - if you lose your shirt it just makes it that much easier to get a tan while you're panhandling for change at the intersections. Happy landings!
 
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1) GigaOm was one of the few tech sites that didn't write with major agendas.

If you're not familiar with tech sites, they often write things like

'When I touched the iPhone 5 I just wanted to make sweet love to it'.

They are unbelievably biased.

So, in the tech sphere we've lost a good blog.


2) Best of luck to them. Hopefully they get snapped up by other tech blogs and sites.
 

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KelliWolfe said:
So you took on a bunch of debt (which you almost certainly had to personally guarantee) with no viable income stream. Well done.

Welcome to Dotcom 2.0. My name is Kelli and I'll be your flight attendant this evening. Emergency exits are located in the front, rear, and over each wing. If you currently hold tech stocks with PE ratios nearing infinity which haven't made a dime since their initial offerings, you might want to start thinking about those exits now. In the event of a water landing your seat cushion may be used as a flotation device - until the giant vampire squid frontruns you and then drags you screaming beneath the waves. We do provide complimentary airsickness bags - you're in for a bumpy ride and you'll probably need them.

I want to thank you for flying Dotcom 2.0, and remember - if you lose your shirt it just makes it that much easier to get a tan while you're panhandling for change at the intersections. Happy landings!
Funniest thing I've read all day. Wish I had not been drinking coffee at the time :)
 

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Gigaom had a great writer covering the ebooks industry -- Laura Hazard Owen. She covered Amazon's book/Kindle businesses, the decline of B&N, and many other topics. I hope she lands on her feet, because this industry sorely needs more press coverage.

Regarding the failure of the business, I have looked into the numbers if anyone is interested but it basically boils down to a crazy cost structure that could only be sustained through continued infusions of VC cash. This is common in the online news world -- Business Insider has raised nearly $56 million (including from our friend Mr. Bezos) and Buzzfeed is approaching $100 million. The only way they can keep raking in the VC cash is through clickbait-driven traffic growth and the hope that AOL or some other sucker will eventually buy them out. Gigaom tried to base a digital media business on quality, didn't see the traffic or subscription numbers, and the VCs pulled the rug from under them.

Here's something to think about: What happens when Oyster and Scribd, which are also heavily funded by VC cash ($48M for Scribd and $17M for Oyster), and are competing against Kindle Unlimited, don't see the growth metrics that their investors demand?
 

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It's a bad joke how these "startups" throw money around.  Their sensibilities and business models are insane.

Expensive offices and huge staffs are not necessary to run a web site.  Apple started in a garage, just like HP.  But all these people today think it's impossible to start a business without a $10,000 teak conference table that holds 20.  They deserve to fail.  Though I did like some of the content on the site.  It's too bad they couldn't approach it realistically and maybe make a go of it.
 

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Jay Allan said:
Expensive offices and huge staffs are not necessary to run a web site. Apple started in a garage, just like HP. But all these people today think it's impossible to start a business without a $10,000 teak conference table that holds 20. They deserve to fail. Though I did like some of the content on the site. It's too bad they couldn't approach it realistically and maybe make a go of it.
To be fair to Om Malik (Gigaom's founder) it did start out as a personal blog/side project about 10 years ago. But then he started taking money from investors to grow, much like Apple and HP did. But unlike Apple and HP, which were in new industries with real sales and high barriers to entry, selling information online is ridiculously competitive, with poor sales and low barriers to entry.

I would love to see high-quality digital news that has a real business model behind it. Events, research, online advertising don't seem to be enough.
 

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ilamont said:
Gigaom had a great writer covering the ebooks industry -- Laura Hazard Owen. She covered Amazon's book/Kindle businesses, the decline of B&N, and many other topics. I hope she lands on her feet, because this industry sorely needs more press coverage.

Regarding the failure of the business, I have looked into the numbers if anyone is interested but it basically boils down to a crazy cost structure that could only be sustained through continued infusions of VC cash. This is common in the online news world -- Business Insider has raised nearly $56 million (including from our friend Mr. Bezos) and Buzzfeed is approaching $100 million. The only way they can keep raking in the VC cash is through clickbait-driven traffic growth and the hope that AOL or some other sucker will eventually buy them out. Gigaom tried to base a digital media business on quality, didn't see the traffic or subscription numbers, and the VCs pulled the rug from under them.

Here's something to think about: What happens when Oyster and Scribd, which are also heavily funded by VC cash ($48M for Scribd and $17M for Oyster), and are competing against Kindle Unlimited, don't see the growth metrics that their investors demand?
Sad. That's why we can't have nice things.

Your comment about AOL buyouts and clickbait articles made me think of Huffington Post. I used to enjoy browsing HuffPo and reading articles on various topics, although it did bother me, as a writer, that so many people were blogging for HuffPo without getting paid. Then Ariana saw a big payday opportunity and sold out to AOL. Now HuffPo is just a big, boring, clickbaity, ad-infested mess.
 

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Bluebonnet said:
Sad. That's why we can't have nice things.

Your comment about AOL buyouts and clickbait articles made me think of Huffington Post. I used to enjoy browsing HuffPo and reading articles on various topics, although it did bother me, as a writer, that so many people were blogging for HuffPo without getting paid. Then Ariana saw a big payday opportunity and sold out to AOL. Now HuffPo is just a big, boring, clickbaity, ad-infested mess.
Reminds me of how much I used to love
Woot.com before Amazon bought them out. Funny thing was, I didn't realize they'd been bought out, I just knew the offerings for sale got suckier, they added a bunch of side junk and the funny descriptions got a lot less funny.
 
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