Slashdot Mirror
MySpace CoFounder Says Purchase Was A Scam
Jonathan writes "Brad Greenspan says he's the real founder of MySpace, not Tom, and the sale of MySpace to News Corp. was a criminal act. In a nine-chapter report, he describes how this was accomplished by hiding the value of the site from Intermix Media's shareholders." From the article: "How was News Corp able to turn $327 million into $20 billion or more of value within a year? The Myspace/Intermix transaction was so low compared to other internet transactions that it is raising eyebrows by analysts and media everywhere. Everyone seems to be asking how News Corp. got such a good deal. It seems too good to be true! After signing the transaction to buy Myspace & Intermix (but prior to the closing), News Corp. itself even showed how strangely little it had paid for Myspace by immediately paying $3.99 per monthly page view for slow growing comparable IGN. News Corp. paid only .03 cents per monthly page view for the hyper fast growing Myspace. Therefore, we can conclude that the fair value of Myspace was 100x or more what News Corp. paid! "
In hindsight, yes. Yes it was a horrible scam, but then again I meant to invest in Billy Gates when he worked out of his garage. Dammit Gates! You owe me billions!
Life is rarely fair. Cherish the moments when there is a right answer.
And I'm the founder of Slashdot. Where's my money?
If I had that much money, I'd consider buying MySpace just so I could shut it down.
I caught the Mountain Wumpus! He gave me his treasure chest ($100) to let him go free again.
Who's holding down the F5 key on the article's site?
there was a treasure map inside.
duh.
i founded myspace as a how-to site on html design etiquette. myspace was originally intended to focus on page readability, intelligent page layout, good user experience, intuitive controls, and subtle interaction. i could be overreacing, but i think something went wrong somewhere though...
intellectual property law is philosophically incoherent. it is your moral duty to ignore it or sabotage it
Therefore, we can conclude that the fair value of Myspace was 100x or more what News Corp. paid!
Or can we conclude that they paid 100 times too much for IGN?
THat does it... I'm deleting Tom from my "friends list!!!!!!"
I bet he's no longer one of Tom's friends...
Nostalgia's not what it used to be.
C'mon, this is Slashdot. Next you'll be expecting me to read the articles too!
Shweet, I can almost sense all the upcoming Slashdot articles about MySpace that include the term "beleaguered". Just one question though - is there such a thing as a MySpace "fanboy"? If so I'm going to have to upgrade the asbestos suit I used for the Apple ones.
Web2.0: I love when people Flickr my cuil and digg my boingboing until my google is reddit and I start to yahoo
That is the funniest thing I have ever read, mainly for the mental picture of the coked-up teenager that wrote it.
It's racist so I should feel sorry for him, or outraged. But it's so nonsensical and all over the map that it's hard to think the author is actually racist, I can only picture that he resembles that hyped-up coffee drinking kid from South Park.
But seriously, I've never laughed harder at a slashdot forum post.
Don't mod his as Flamebait. This guy is an internet treasure.
# Erik
This is the epitome of MySpace drama. Literally.
The only fair thing to do is delete MySpace entirely.
Does this mean that we'll get to see a shirtless, drunken Rupert Murdoch dragged kicking and screaming over a mobile home lawn covered with broken Playskool toys and empty beer cans?
Netcraft Confirms it: MySpace is dying.
Yet another crippling bombshell hit the beleaguered social networking site today when recently discovered that its marketshare has begun to seriously slip, due to mainly to other sources of personal videos, such as Google's own service and uTube, combined with modern teenager's lackluster desire to socially network. Current random surveys indicate that a large number of new user signups over the last 3 months have mainly been middle aged single men and U.S. Senators.
You don't have to be a genious to see the writing on the wall: All the teenagers that want to be on MySpace already have accounts, and there simply aren't enough pre-teens coming of age to maintain this rate of growth. The future of MySpace is indeed bleak.
When asked for comment, MySpace founder Brad Greenspan replied "look, I just need a few weeks before you print this..."
Tequila: It's not just for breakfast anymore!
Come on now. Congress isn't a media source...
How are sites slashdotted when nobody reads TFAs?
True, but it's still fraud. It's just that Canadian law is a tad sloppy in protecting fraud victims.
You shut your damn mouth right now.
I wear the ring.
Eventually the animations and neon background images will blind the user base, however. And then where will they be?
I know everybody my age uses Myspace. I patently refuse not because I mind social networking sites, although I think that's kind of a highbrow name for them, but because the average Myspace page looks like it was created in 1994 by a visually impaired thirteen-year-old with a stock of clip art and animated GIFs.
Ah Yes the venerable Slashdot summary. Right up ther with Cronkite.
OSGGFG - Open Source Gamers Guide to Free Games
Sherwood vs. Walker
That sounds like the most badass court case ever. I bet it was won by gunfight.