Quote:
Originally posted by Mike AI@Feb 15 2003, 09:21 AM
I am suprised they lasted this long, and they could still find creditors to lend them money.... it was obviously a tar pit for investors, yet people still kept sinking tons of money into it....
crazy....
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Mike, I think the "attractiveness" of the site is that it typically is well written and relatively open minded. it has the potential (and often has) broken the barriers between beer drinkers and the wine and cheese crowd.
47,000 subscribers (paid, from what I can tell) is a damn good thing. But I can really see a real world spin on the way the company is operating - Even at $5 per month, they are taking in maybe 250k a month, and it looks like their rent is at least 100k a month. They forgot that they are working a virtual business, and spent real money on things that clients never see.
Too bad, there will be a hole to fill there, that is for sure.
Alex