Economics
The Fastest Way to Burn $850 Million
Two years ago AOLTimeWarner bought Bebo — no, I’ve never heard of it either — for $850 million. Today AOL, alone again like Gilbert O’Sullivan, is looking to shut down or sell the site for whatever pennies it can recoup. Uncle Sam himself would have a hard time squandering $0.85 billion so quickly, though at […]
Two years ago AOLTimeWarner bought Bebo — no, I’ve never heard of it either — for $850 million. Today AOL, alone again like Gilbert O’Sullivan, is looking to shut down or sell the site for whatever pennies it can recoup. Uncle Sam himself would have a hard time squandering $0.85 billion so quickly, though at least when AOL does it nobody’s country gets blown up.
