Holly Sanders writes in the NY Post (always a great read) that Online Ad Spending Estimates Drop for Social Nets.
Web ad tracker eMarketer cut its ad spending estimates for Facebook, MySpace and other social-networking sites amid growing questions over whether such sites will attract major ad dollars.Hmmm. You can just hear the valuations for Facebook, Digg, etc sliding down the garbage disposal, right?
On a related note, Michael Arrington brings our attention to the hilarious revelation in Sarah Lacey's new book that Al Gore tried to buy Digg for $100 million. My thoughts are this: if an idiot wants to buy your web 2.0 company for a large amount of money based on inflated guesstimates of your future ad revenue, let him... before the estimates are revised down.
A bird in hand is better than...