Another disco great, gone. Bee Gees brother Robin Gibb has now passed away, according to details confirmed by the family. Gibb suffered from complications related to cancer and a recent intestinal surgery; he was 62.
So what happens next? After a dud of an IPO, Facebook (Nasdaq ticker: FB) faces a week loaded with tricky questions. FB finished day one at $38.23 - a scant 23-cents above its target price - and the question now is whether this quickly slumps into negative terrain. Underwriter Morgan Stanley is widely believed to have propped the stock to avoid an embarrasing underwater finish, but that subsidization won't last forever.
Either way, this was the largest IPO in history, at least in terms of volume. Tellingly, Nasdaq's systems were overwhelmed at the onset, forcing a delay in initial trading and even more questions for the tech-focused exchange.
Award-winning, former LA Times journalist Chuck Phillips was ousted from a Brooklyn courtroom last week, the latest chapter in a long-running fued involving James Rosemond, aka 'Jimmy Henchman'. Rosemond was recently caught trafficking cocaine through Universal Music Group headquarters in Santa Monica, but that's just one of several major trafficking charges. Phillips was removed after being named as a witness; as a tough investigatory reporter, Phillips unearthed important research related to the deaths of Tupac and Biggie before the Times fired him on highly-controversial grounds. Phillips offered a detailed statement to the Village Voice, here.
Looks like more delays are plaguing the cooperative enforcement pact involving US-based ISPs, the MPAA, and RIAA. Torrentfreak reports that a July 1st implementation date is likely to be missed on this '6 strikes' approach; appointed agent Center of Copyright Information (CCI) declined to offer a hard start date.
Amanda Palmer's record-setting Kickstarter campaign continues to overachieve. Contributions have now topped $750,000, but the worthwhile debate is whether this qualifies as a genuine, DIY success. Palmer is notorious for dishing on her old label, Roadrunner Records; critical observers wonder if she could have done this from scratch.
Researchers say the darndest things. In a recent finding by researchers at Missouri University of Science & Technology, those suffering from depressive symptoms are more likely to file-trade.
A strangely in-reverse, alternative Abbey Road cover snapshot is now slated for auction, with a 9,000 pound ($14,227) price-point expected. The main difference is that the Beatles are walking right to left, though other differences include a shoe-wearing Paul McCartney.
Remember MySpace Monday, May 21, 2012
In a few years we will be saying "Remember Facebook"
Dump and run. Ads dont work privacy issues everywhere, no respect for the users, the list goes on.
jw Monday, May 21, 2012
MySpace was always mismanaged. From the start, the site was a hodgepodge of poorly coded, table-based design, & it only became more messy as time went on. They were never a serious technology company & never had serious plans for the future, they always had a bubble-type mentality that they would just keep growing no matter what.
Facebook, however, has been more strategic about it's growth than any dot com ever has. Buying Instagram was a pretty shrude move, & shows a very serious long-term strategy to 1) stay relevant, 2) retain traffic, & 3) oust any competition. MySpace was always incredibly vulnerable to loss of marketshare, Facebook isn't... they learned that lesson on the way up.
The privacy concerns are, obviously, overblown. And the mentality of the internet at large continues to shift in Facebook's favor. The outcries are necessary growing pains, & Zuckerberg has endured them better than anyone could've imagined. The difference between a company like Facebook & a company like MySpace is staggering.
How profitable Facebook will be remains a question, but as it's users become more & more comfortable with sharing information online, their potential for profit rises higher & higher. The idea that they will disappear, however, is absolutely ridiculous. And anyone suggesting such a thing doesn't realize how deeply the Facebook platform is rooted in the broader internet & hasn't been paying attention to the strategic moves they've made over the last few years. Twitter may disappear, Pinterest may disappear, Tumblr may disappear, but Facebook isn't going anywhere.
It's going to take a while before all of the conditions line up to allow them to be really profitable, & the stock will probably fall until then. But when they get it right, it's going to be like owning stock in the internet.
That's what I think, anyways.