MySpace CoFounder Says Purchase Was A Scam 214
Jonathan writes "Brad Greenspan says he's the real founder of MySpace, not Tom, and the sale of MySpace to News Corp. was a criminal act. In a nine-chapter report, he describes how this was accomplished by hiding the value of the site from Intermix Media's shareholders." From the article: "How was News Corp able to turn $327 million into $20 billion or more of value within a year? The Myspace/Intermix transaction was so low compared to other internet transactions that it is raising eyebrows by analysts and media everywhere. Everyone seems to be asking how News Corp. got such a good deal. It seems too good to be true! After signing the transaction to buy Myspace & Intermix (but prior to the closing), News Corp. itself even showed how strangely little it had paid for Myspace by immediately paying $3.99 per monthly page view for slow growing comparable IGN. News Corp. paid only .03 cents per monthly page view for the hyper fast growing Myspace. Therefore, we can conclude that the fair value of Myspace was 100x or more what News Corp. paid! "
In hindsight (Score:5, Funny)
Yeah! (Score:5, Funny)
If I had that much money.... (Score:5, Funny)
Ok, who's the wise guy? (Score:5, Funny)
Re:Boo hoo (Score:3, Funny)
duh.
Re:Ok, who's the wise guy? (Score:5, Funny)
i founded myspace (Score:5, Funny)
or does the water get him instead? (Score:5, Funny)
Or can we conclude that they paid 100 times too much for IGN?
Re:fp (Score:4, Funny)
unfriended! (Score:5, Funny)
Re:Sounds like sour grapes (Score:2, Funny)
Re:News corp got ripped off... (Score:2, Funny)
Re:i founded myspace (Score:5, Funny)
I see you followed those same principles in the site you link to [griefmovie.com] in your sig (and the puncuation in your post).
Re:fp (Score:2, Funny)
It's racist so I should feel sorry for him, or outraged. But it's so nonsensical and all over the map that it's hard to think the author is actually racist, I can only picture that he resembles that hyped-up coffee drinking kid from South Park.
But seriously, I've never laughed harder at a slashdot forum post.
Don't mod his as Flamebait. This guy is an internet treasure.
Dear God... (Score:5, Funny)
Oh well (Score:5, Funny)
Bad boys bad boys, whatcha gonna do (Score:4, Funny)
Re:Sounds like sour grapes (Score:5, Funny)
Netcraft Confirms it: MySpace is dying. (Score:5, Funny)
Yet another crippling bombshell hit the beleaguered social networking site today when recently discovered that its marketshare has begun to seriously slip, due to mainly to other sources of personal videos, such as Google's own service and uTube, combined with modern teenager's lackluster desire to socially network. Current random surveys indicate that a large number of new user signups over the last 3 months have mainly been middle aged single men and U.S. Senators.
You don't have to be a genious to see the writing on the wall: All the teenagers that want to be on MySpace already have accounts, and there simply aren't enough pre-teens coming of age to maintain this rate of growth. The future of MySpace is indeed bleak.
When asked for comment, MySpace founder Brad Greenspan replied "look, I just need a few weeks before you print this..."
Re:Sounds like sour grapes (Score:3, Funny)
Re:i founded myspace (Score:4, Funny)
Re:If he were in Canada (Score:3, Funny)
Re:Ok, who's the wise guy? (Score:3, Funny)
Re:It could be worse for techies... (Score:5, Funny)
Re:Yeah! (Score:5, Funny)
Re:News corp got ripped off... (Score:4, Funny)
I know everybody my age uses Myspace. I patently refuse not because I mind social networking sites, although I think that's kind of a highbrow name for them, but because the average Myspace page looks like it was created in 1994 by a visually impaired thirteen-year-old with a stock of clip art and animated GIFs.
Re:Sounds like sour grapes (Score:3, Funny)
Ah Yes the venerable Slashdot summary. Right up ther with Cronkite.
Re:Sounds like sour grapes (Score:1, Funny)
That sounds like the most badass court case ever. I bet it was won by gunfight.