Best of the Week: Facebook’s nightmare; Google’s ridiculous profit; and can they still get the Foxtel float away?
Welcome to Unmade, mostly written on Friday afternoon at a pleasant 3.5 star hotel in Sydney’s rainy Chinatown, and polished off this morning in a mildly hungover race against checkout time.
Happy World Nutella Day.
Bubble’s end?
I wonder whether we’ll look back on the last few days as the moment the tech bubble began to burst.
The tech sector hasn’t had as bad a fortnight since the moment the NASDAQ technology index peaked in March 2000, just before losing two thirds of its value when the Dot Com Boom became the Dot Bomb Crash. The index took 15 years to recover.
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I guess all those full page ads in the News Corp Australia newspapers aren’t as effective as they used to be. It’s why the traditional pay TV bundle used to be so powerful. And still is to some extent in the USA. The entertainment and live sports can subsidize the news for instance. But when you go it alone with something like Flash the news has to stand on its own two feet. Which it seems Flash isn’t doing very well.
Thanks for the comment, Anthony.
I’ve been thinking about Flash a bit. As it stands, it seems to be performing about as well as could have reasonably been expected. I wonder whether this is part of a bigger global strategy. For instance, I wonder what the company’s ambitions for its new TalkTV service in the UK speaks to a wider global strategy.
Cheers,
Tim