I remember when NewsCorp bought MySpace and I was already on Facebook at the time. I knew that NewsCorp had been taken for suckers because it was plain as day that young people would all move to Facebook.
Of course, I no longer use Facebook, but it’s a lesson for business people. If you’re making an investment in something young people use, maybe ask young people something about it first.
As you get older, you really just lose touch with that kind of thing, so it’s understandable how a bunch of suits missed that and flushed half a billion dollars down the toilet.
I remember when NewsCorp bought MySpace and I was already on Facebook at the time. I knew that NewsCorp had been taken for suckers because it was plain as day that young people would all move to Facebook.
Of course, I no longer use Facebook, but it’s a lesson for business people. If you’re making an investment in something young people use, maybe ask young people something about it first.
As you get older, you really just lose touch with that kind of thing, so it’s understandable how a bunch of suits missed that and flushed half a billion dollars down the toilet.
The data they got continued to be valuable to advertisers for decades