Ben Shepherd writes: Silicon Alley Insider writer Nicholas Carlson called out for SAI readers to help fix Digg’s ‘miserable revenue’ and submit ways the site can monetise on a scale that means it won’t lose millions of dollars each year.
They have now featured what they consider to be the best 5 – http://www.alleyinsider.com/2009/1/five-plans-to-fix-digg—-vote-here
And all of them are bad. They read like bad university assignments. Personally couldn’t see any of them providing any new info to Jay Adelson and co. Digg has seemingly fallen in a hole in the last 8-10 months, going from mega-hyped Valley company and possible Google acqusition to less attractive, older and more awkward cousin of Facebook and Twitter (both of which will face the same revenue issues Digg is copping now)
Is there a problem in the digital media industry in terms of coming up with viable commercial ideas that actually generate revenue?
A friend was in the Valley mid last year and told me the place was literally miles away from thinking about actually building revenue models and more focussed on product and funding. Locally things don’t seem much better, however a lack of VC and a lot of competition means that most web businesses in Australia have no option other than to hit the market hard to generate revenues to pay bills.
Digg could do okay in AU in my opinion. It has an interesting audience and some cool targeting potential … but it needs to stand for something as right now Digg as a brand is an aggregator and nothing more.
Anyway, have a look.