Lesson #1: If Google offers you $200 million for a business that has no real focus or vision – TAKE IT.
Lesson #2: If the due diligence doesn’t back up a $200 million valuation and someone else offers you $80 million – TAKE IT.
Lesson #3: If you ignore Lessons #1 and #2 and decide to redesign your very popular (but unprofitable) website – MAKE SURE IT DOESN’T SUCK.
Lesson #4: If the redesign of the website sucks and the entire world complains – DO SOMETHING ABOUT IT.
Lesson #5: If Lesson #4 is ignored and senior management continues to party like its 2006, YOUR COMPANY IS DYING.
Lesson #6: If your company is dying and you don’t have the cure, LET IT DIE WITH DIGNITY AND START OVER.
I’m afraid we’re at Lesson #6.
DIGG IS DEAD – R.I.P.
If only the Business Week cover from 2006 were true.
While many of the employees of Digg will find it difficult to start over, the founders and senior management team probably will not. Especially Kevin Rose, who is an early investor in Twitter and Zynga. So don’t cry for dude. Dude is fine.
I suppose I’ll just have to “Like” instead of “Digg” (until Facebook becomes worthless – and they are on that path!). After that, I’ll probably have to “Shout Out” or “Yeah, Baby” or whatever other little button some company wants me to click whenever I like the new taste of Coke Zero.
“Digg” was cool and nobody can take 2006-2008 away from you guys. That was your time!
So long Kevin, Matt and Jay – who cares if you’re not Billionaires? Remember, Millionaires can still get chicks and buy drinks at any bar in the world.
Jill Kennedy – OnMedea