Heath Row's Media Diet

Bubble Money

Bubble Money

Sterling: Let's talk about the business side. That’s Topic No. 2: Where's the bubble money? Where's the economic activity? Where's the business model? So much glass was put in the ground and so much human energy was expended for something that doesn’t have a business model. The death of portals is a problem. The death of ISP's is a problem. If something like Canopy takes off, there go the ISP's. Its interesting to me that the biggest thing going right now is Google. Google isn't a portal. It's all about getting right into the database. Get me right into the database.



Who is this poor guy from Red Herring? I saw him on CNN this morning. He says, "I was googling it. I was bloggering it." I was blog dancing him. He says, "Yeah, the enthusiasts usually start it and then someone like me comes in to finance it." I was, like, "Where's your magazine dude?" How many times do these guys need to be punished? How much money do they need to lose? When will they learn that the Internet is a product of the sciences and the military. Those aren't profit-motive ventures.



CNN doesn't have any money to send anyone to Baghdad this time around. Fox lost heaps of money, enough money to build entire cities from the ground up. There's no money. There's no money in Blogger. There's no money in the corporate media. Money has to come from somewhere. Unless information wants to be worthless. Unless we just want to be worse informed from machines that work worse and worse. That’s the trend I'm looking at, and it's bugging me.