The return of semi-rational exuberance
Was just following up on Marc Canter's post about the new GoingOn Network, which is very much a part of the vision of Insytes - but rather than focus on social and personal interactions, I am more interested in how we build a model of our collective intelligence. Perhaps we can end up working together with them more directly rather than just being another service that easily plugs into their DLA. Only time will tell... more thoughts on this later.
What inspired me to post this now was this piece on MySpace selling to NewsCorp for $580 Million. Echoing Marc's sentiments on this one fully - kudos to them and good luck in dealing with the corporate behemoth. I dont think this is full irrational exuberance yet, but with all this activity going on in upper echelons of uber-wealthy serial entrepreneurs all the way down to bootstrapped folks who are still in college - you can literally feel the energy shift. But the logic of such a hefty price can not be fully justified. To me it sounds like Rupert wanted them bad enough to pay pretty near the price they asked for, if not hitting it dead on. Will be interesting to see how the back story actually evolved. Regardless I want MySpace's attorney's representing Insytes if at all possible.