This is a bummer, Blognation quickly rose to be one of my favorite blogs BECAUSE of who was writing for them (people like Marc Orchant and Oliver Starr). Now that system is imploding because funding never came through and a mess was created. I just visited the Blognation home page and it’s uncharacteristically empty (UPDATE: it now has content again).
Fascinating reading, but in my own experience I’ve learned that there’s only one thing that really matters in media development: revenues. If someone is promising you a free lunch (er funding) and you don’t have revenues to back it up that free lunch will either never happen (like in this case) or will end at some point in the future as investors tire of pouring money into something that will never make it. It’s not as easy to get revenues in the media business as it might look. Nearly every startup is going after advertising revenues and, so, will be your competitor. This is not a business for the faint of heart.
The news is being covered all over the place due to a letter from Oliver Starr to Sam Sethi, here’s the reports I’ve seen come through my news reader this morning:
My heart goes out to all the Blognation bloggers who probably will never get a dime that was promised to them.
I’m leaving to go to London tonight. I’m sure that this will be the talk of the town at the geek dinner on Friday evening.
UPDATE: a friend of mine just told me that there’s a rumor going around that I’m joining Blognation as an employee. I can categorically deny that. I never considered working for Blognation and am not considering a job there. Just to clear that up.