The $74 Million Scam

from the interesting-timing... dept

Monic Welsh writes “Ken Layne of Online Journalist Review fame says that ‘David Talbot and his Cash Incinerator have done more to “destroy the future of independent publishing than any burst bubble or recession.’ He accuses them of spoiling the market for any publication wishing to get financing, and say that Talbots biggest crime was to ‘suckering so many people with his delusion.'” Am I going to get bashed now for being in Salon’s pocket if I defend Salon? Actually, I’m going to respond in a way that has really nothing to do with Salon. Just because venture capitalists won’t fund Layne’s work doesn’t mean he should blame Salon. Has he looked around lately? No venture capitalist will fund any consumer based offering. This would be the case whether or not Salon existed. I’ve said a million times that to blame a venture capitalist for your inability to get a project off the ground is cheap and shows a lack of creativity. There are ways to build companies and publications that don’t require getting venture capital money. A content business generally is not a business that should get venture capital anyway, because the returns will never be high enough.

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