Farhad Manjoo reports on the recent demise of GigaOm, the tech news website founded by Om Malik. Though it roasted $30m before creditors shut it down, "digital media darlings" are unfazed.
Gigaom's downfall does not offer easy lessons for media start-ups. Gigaom, pronounced Giga-ohm, was special, and not in a good way, according to more than half a dozen staffers and executives, many of whom spoke on the condition of anonymity, citing nondisclosure agreements with the company. It was a company troubled by poor leadership, a history of spending beyond its means and an inattention to major problems that had dogged its businesses for years.
Just because everyone's gliding on thermals of burning money, doesn't mean they'll all crash in the same field.
