The Russian Bear Slashes a Social Network

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	The Russian Bear Slashes a Social Network

dewitte

1-6-2009 9:29 AM

280 views

tags:

blogging, livejournal, russia, six apart

dewitte says:

Chilling...

3 Comments |

Add a Comment

1-6-2009 10:12 AM

wiccantexan

Ironically, I have just shared this Clip to my LiveJournal.

1-6-2009 10:19 AM

dewitte

Ironically, I have just shared this Clip to my LiveJournal.

That might invoke time travel...

1-6-2009 12:20 PM

wiccantexan

That might invoke time travel...

????

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2ac6b0e2-94d3-477c-8b25-c5c87d465303/7303B6ED-D69C-4CB3-9751-FE9ABEA25335/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network" href="http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network" style="font-size: 11px;">valleywag.gawker.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network">The bubble in social networking has burst, decisively. LiveJournal, the San Francisco-based arm of Sup, a Russian Internet startup, has cut about 20 of 28 employees — and offered them <A href="http://xb95.livejournal.com/635394.html">no severance</A>, we're told.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network">The company's product managers and engineers were laid off, leaving only a handful of finance and operations workers — which speaks to a website to be left on life support. <A href="http://gawker.com/tag/Matt-Berardo/" title="Click here to read more posts tagged MATT BERARDO" rel="nofollow" class="autolink">Matt Berardo</A>, a Yahoo executive hired on last summer, is also believed to be gone.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network">The company's Moscow-based management has told employees it blames the "global economic downturn" — the kind of pat excuse every boss is giving for layoffs, even when mismanagement or a bad business plan is really to blame. The brutal, abrupt cuts suggest something different: That Sup founder <A href="http://gawker.com/tag/andrew-paulson/" title="Click here to read more posts tagged ANDREW PAULSON" rel="nofollow" class="autolink">Andrew Paulson</A> (above), who <A href="http://www.kommersant.com/p831892/r_500/SUP_LiveJournal/">paid an estimated $30 million for LiveJournal a little over a year ago</A>, has realized his expensive mistake in buying at the top of the bubble. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7303B6ED-D69C-4CB3-9751-FE9ABEA25335/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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