From Leviathan to Runt : The Making of an Internet Relic

13 Apr From Leviathan to Runt : The Making of an Internet Relic

Where did it all go?

With an anticipated loss of $165M, the once formidable MySpace is now set fall into oblivion. Mismanaged and involved in unwise business deals coupled with indulgence in ego-centric extravagance and whims instead of having the discipline and patience to work for product quality has destroyed the dominance they once enjoyed. Since 2009. the company drifted and been unfocused, chipping away its value.

This downward spiral can also be seen in the once promising hi-tech based advertising/marketing outfit Spotrunner. A lawsuit was filed accusing the board members of pocketing profits from undisclosed sale of stocks that should have been used to beef up the company’s financial base.

Interestingly, both MySpace and Spotrunner have their main operations in Los Angeles. Most critics agree that L.A. offers the least talent to provide the needed to operate a business based on technology, programming and web platforms.

These two companies seem to be examples of what big egos and avarice can do to a corporation. If these former industry giants can fall, imagine what the same would do to your business.