A lot of folks are talking Web 2.0 bubble. Internet bubble rumors usually arise when a hoard of projects sprout up without well thought out business models, and get enormous amounts of venture capital which usually winds up in the founders’ pockets as compensation for their grand importance to “the space.” That frenzy has now hit the online political scene.
A web venture is being launched with the mission of facilitating rational political debate. Right. I am wondering how HotSoup.com is going to get those heavy-hitting bloggers to shut down their sites so HotSoup can get their traffic. That is where the supposed debate is going on right now, and it isn’t too pretty; getting it to migrate is going to be one hell of a task.
Of course, now that HuffingtonPost.com is rumored to be getting a load of funding, I’d say the bubble talk may be right on. For goodness sakes, even HuffPo had a hard time keeping heavyweights around.
I wish those VCs good luck.