Not just a fashion accessory anymore!
I came across, what was to me, an interesting story about the Huffington Post (or Puffington Host- your choice!), something that surprised me down to my toenails!
The Huffington Post is in danger of going out of business! No, that's not what surprised me. What surprised me was the fact that they were ever in business!
Notwithstanding her critique of the pursuit of success, wealth and recognition, a little less than a year ago Arianna picked up $25 million, mostly, or all, from one presumably star-struck investor, Fred Harman at a rumored $100M implicit market valuation.
There are those who believe that Arianna sprinkled fairy dust into Fred’s eyes to make him believe that it was a great business proposition, not a vanity/propaganda organ that will never pick up enough cash to cover its burn rate. It’s not a business and never will be.
I had always thought that the Huff Po was the Internet equivalent of a vanity press, a supposedly trendy place for celebrities to hang out and publish left of center fluff and nonsense to the delight of others who were trendy and left of center.
Never in my wildest dreams did I picture this as an investment with expectations of monetary returns!
Am I the only one who didn't recognize the business model:
1) Write lots of dumb stuff
2) Make tons o' money?
Attention all K-Mart shoppers: Great blog investment available at reasonable prices. Celebrity bloggers welcome! See Proof at You-know-the-drill, dot com.
Cross posted at Say Anything