Am I the only one who thinks that the recent Wall Street Myspace.com obsession is completely baseless? I can't wait to short the shit out of New Corp once the thing fails.
Excuse my noob question but what company owns myspace and what is the symbol? Myspace seems to be all over the news recently (not usually for good things), but I'm in my mid 20s and I use it to keep in touch with a lot of friends from college. Of course, the vast majority of users seem to be high schoolers.
Newcorp just bought it (NWS). My issue isn't whether it's popular. My issue is that it's dominated by a very fickle population. Young people - especially college and high school students - are going to flock en masse to the latest and coolest thing when it comes to the net. Until it ceases to be free. And even if they were willing to pay for it, the internet with its low barriers to entry is going to draw entrepreneurs willing to give thier thing away for free in exchange for a few million eye balls. I also don't see ppl buying anything off of myspace.com in any significant way. Perhaps it could survive off of an advertising-based business model, but even if that went over swimmingly, expectations seem to be a little high right now.
News corp only paid $585 million for myspace. They probably make that from advertising on american idol.
. Fair enough, but given all the hype, how much do you think they'll lose in market cap if the thing doesn't live up to expecatations?
not much considering the vastness (word?) of the corporation. Just think of all the different businesses News corp owns. If one fails, surely the company will be fine. Also I believe that Murdoch will use Myspace as a way of distributing its many media products. Myspace its an extra bonus - it is not essential to the news corp business model. There will be many different ways that Murdoch will be able to use Myspace to benifit the company.
Again - fair point. But, if this is the case, then why is the stock trading in a reinvigorated fashion - which many are pegging to the myspace.com aquisition/expectations.
I think myspace is worth 500 million because almost every person I know in their 20s is using it. I have never seen anything take hold of all my friends like this before. I have friends the are seriously addicted to it they can barely make it through a whole weekend trip without checking it. Every picture we take while we are getting wasted on the weekend ends up on myspace.
Myspace is pointless. www.tagworld.com is even much better than myspace, it's just a question of when everyone will move over to that. Personally, me being 19 and all, I've signed up for a myspace account, but I barely use it. I met a few people on there, but basically it's a popularity contest, who can have the most friends and suck up to people, lol. *I guess that is why it is popular... hmmm...* I said about a few months ago to a friend that myspace is a fad, and it will be done with in about 2 years. I still stand by that. I have a feeling they are going to go to a thing where they charge people for extra features. But it's just a feeling. We all know that with teenagers, something is cool one day, and the next it's just ridiculous. That is my input on the myspace deal. The company that owns it. They might do good for the next few months, but, I think the myspace thing has already reached it's climax.