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AOL Dumps $1.2 Billion Worth of Acquisitions
destinyland writes "The social networking site Bebo is being sold for just 'a small fraction of the $850 million AOL paid for the site two years ago,' according to the Wall Street Journal. Since its acquisition, 'the site has been shedding users as fast as Facebook and Twitter have been gaining them,' according to one industry observer, quoting an April memo reportedly sent by an AOL executive arguing that Bebo 'has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space.' Bebo's traffic is already down 44% from last year, according to the Wall Street Journal, attracting just 5 million unique US visitors in May (versus 130.4 million for Facebook). And earlier this month, AOL shed the instant messaging service ICQ for $187.5 million — which it had acquired in 1998 for over $408 million."
.. people who go to school to learn how to make money or manage other people
gosh I hate those!!
maybe they should scrap all such disciplines related to management, business studies, etc
you can't really learn chemistry, physics, mathematics that well completely on your own.
but management? etc - you can from life experience.
so yeah probably most of the excellent managers out there are former computer programmer, designers, scientists, etc