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Monday · November 03 2003

3 words...are they insane?
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If I had the creativity, brains, connections, and luck to create a popular online networking site, I'd be doing pretty well. Friendsters around the world thank me daily for bringing them together to share pictures and...uh...pats on the back. None of them pay me a dime for their fun and games, in fact, they beg me to keep the playground open for free. No matter; I have great plans for the future. Very soon, I will leverage my captive friendsters' personal profile data into a major dollar sell off. Unsuspecting cows.

Google offered me 30 million (!!!) dollars for my friendsters. I told them to take a walk, because the VCs at Kleiner told me I'm worth at least 20 million more than that. I'm going to play this for all I can get. $53 million is almost twice as good as $30 million.
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I hope Jonathan Abrams (CEO of Friendster) ends up peniless in the gutter. Greedy bastard. I thought we all learned our lessons about hype and no revenue a couple years ago. Apparently, VCs have been saving up since the fallout and are handing out wads of the new, colored Andy Jackson bills. Good times. Maybe I can get hired to play foosball again.

I'm not a finance expert, but if someone offered me $30M to buyout a service that hasn't collected a dime from the subscribers, I'd take the money, retire at the end of the road in Kauai, Hawaii, and have a good long laugh over Mai Tais and coconuts.

I'm curious if Friendster fanatics would be willing to pay for the fun. I'm guessing no.

more at megnut - original article at SiliconValley.com

Archived: Techie » November 2003
What you had to say:
November 03 2003

Ouch.
Friendster is still being called a 'dating site' by the articles that write about it. It's not that at all. In fact anybody who tries to date on Friendster is almost immediately shunned by their friendsters for not being hipster enough.
Meanwhile, the six-degrees-of-separation thing fascinates me, and I think the site could be fun and even useful ... but it's painfully slow and buggy. It could be fun to browse through friends of my friends looking for common interests, or to search for a friend of a friend in a city to which I'm planning a trip... and if the kidz on the site would stop frontin' long enough to let people maybe try to find a date... but the browsing features are so archaic and limited that they make it impossible to find anybody without first looking through 300 profiles - which brings us back to how painfully slow the site is... which makes the site virtually useless.
But, I still do like checking it daily to see what posts my friends have put up. So I'm full of shit.

© 2003 Jason Keglovitz