murdoch falls for soc net hysteria…again

There is a rumor floating around the Murdoch is looking to buy LinkedIn, thinking that is meshes nicely with the crown jewel of his Dow Jones purchase, the Wall Street Journal.

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I am sure that, somewhere in the world of inane corporate strategy, there are some “synergies” that fits their “vision.” However, since the Wall Street Journal makes oodles of money in its print form and has over 1 million paid subscribers to its online edition, the only similarity between it and the $75 million in revenue LinkedIn (as reported by the always irascible George Parker) is that they have corporate types as a consumer base.

So does Mercedes-Benz, but I don’t see Murdoch trying to buy them. Maybe if they had a bigger online presence…

As AdPulp says, there may be a future to all of this social networking stuff, but it’s not now. Right now, we are in the throes of the Web 2.0 rehash of the Web 1.0 version of “investing in new technologies that seem cool but have no hope of making money and are, thus, money pits for otherwise rational investors who squeeze the retainer of their ad agency while throwing away money on garbage acquisitions.”

At least some dorky web kids will make millions, right? Shut up.

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One response to “murdoch falls for soc net hysteria…again

  1. I love how big corporations think they “control the internet” and keep on buying anything that is cool or hip in hopes of dominating the Internet.
    They should all realize that LinkedIn is about 5 years ago and spend some time with their interns/ summer students or whatever child slave labour they use at their company to find out what really is the new thing they might actually want to waste their billions on.

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