MySpace, YourSpace
There were a couple of reports, most notably on Reuters this week, claiming MySpace will be worth upwards of $15 billion within three years, with Facebook not too far behind. I didn’t pay too much attention until this blog post by Mark Glaser of PBS’ MediaShift, in particular:
How did so many people get fooled during the dot-com boom in the ’90s? Say hello to bad bubble reporting, take two. First BusinessWeek runs a cover story on a Digg founder having made “$60 million in 18 months,†and then Reuters runs a story titled “MySpace May Be Worth $15 Billion.†And I might have an invisible Siamese twin attached to me at the hip. And you might actually believe these things. It’s a sad state of affairs for business reporting at the moment.
It’s dot-com, version 2.0. Way back before bits and bytes meant anything, and faxes were delivered on paper instead of to my e-mail box, we had at least a decade or two between booms. Here we are, only ten years after the so-called Internet revolution started, and six years after the last of the big dot-com busts, back to Internet startups at a dime a dozen. This list of popular Web 2.0 apps is astonishing. Raise your hand if you’ll still be around next year at this time.
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Daniel Ross-Jones serves as Minister for Youth & Young Adults at First Congregational Church of Palo Alto, United Church of Christ. Living in the San Francisco Bay Area for a time still measured in months, he is frequently getting lost and discovering treasures of a landscape very different from his Upper Midwestern roots. Green Jello Hotdish is a blog exploring the intersections of his days. 
