Quote:
Originally Posted by Slutboat
I know a billionaire, he's incredibly bored with anyone who comes to him with money making ideas. I imagine CL has a criteria for charging a city for Apt. ads that has something to do with how well that city is doing financially. CL is run like a non-profit and has never been about making money, it's as much a public service as it is a profit machine. Which is what makes it far more dissapointing that they had to cave the the pressure of these asshole AG's.
But it's fun to imagine what could be done with a little of that traffic. I bet you could make a million dollars a day with a single rotating banner. But when you have a site worth 5 billion dollars who worrys about pocket change.
|
But CL isn't making billions of dollars, and it's not worth billions of dollars either.
I just don't understand praising that kind of thinking. If you want to praise them for not making money and look at them like a "Robin Hood" of the internet, I guess you could, I just don't subscribe to that way of thinking. I mean, we're all here to make money, right?
The claim put forth that CL was worth 5 billion was made in early 2008 and pretty much was shot down by ValleyWag as soon as it was made -
http://valleywag.gawker.com/375850/i...orth-5-billion
Bad estimates and even worse math. The days of huge traffic websites being worth "a billion dollars" based more off potential to generate revenue rather than already generating the massive revenue dollars that would support the valuation are pretty much over. No one's buying companys at 10X earnings anymore.
What's happening with CL reminds me alot of how things hapened with FaceBook. I'm sure CL has a lot less overhead, but to cut to the core of it they are both run by people who at one time touted people and principals over profit. Facebook has been making a pretty sharp 180 on that over the past year. 3 or 4 years ago you would have never imagined FaceBook would be using your avatar and name in 3rd party ads to try and sell things to your friends list. Will be interesting to see if the day will come when CL follows suit.