Michael Arrington Gets Negative on Web 2.0 – Acquires FuckedCompany.com

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Techcrunch has acquired FuckedCompany.com. Arrington gives his reasons for the deal that seem like an unlikely match:

The market moves in cycles, and its clear that we are at the tail end of the current boom (disregard recent statements I've made to the contrary). Thousands of startups launched in the last year and a half, and well over a billion dollars was invested in them. Even in good times, 90% of startups fail. But recent events make me believe that even a 10% success rate might be optimistic going forward.

He also notes that the Techcrunch Deadpool is growing rapidly. I, for one, am glad to see some sense coming to the Web 2.0 scene.

UPDATE: Techcrunch has posted that it was an April Fool's joke, although the reference is only to the part about Techcrunch's claim it would stop writing about startups. I assume this means that the acquisition is real after all. I'll update this post if it turns out otherwise.

  • You did, of course, check the today’s date?

  • Rob

    Yes I did think for a second that it could be an April Fool’s joke, but I assumed it was posted on March 31st for that very reason – so that people would take it seriously.

    Whether it’s a sham or not, I think the Web 2.0 bubble is starting to bust, as people realize you do need a real business model to run a company. Holding out for the “acquisition lottery” is a bad strategy with so many copycat companies.

  • “I think the Web 2.0 bubble is starting to bust, as people realize you do need a real business model to run a company”

    Of course you do — but Web 2.0 is not necessarily about running companies. Here’s a nice overview: http://franticindustries.com/blog/2007/03/29/are-you-creating-a-product-or-launching-a-business/