Al Gore Knows Zip Re: the Media Business

(MoneyWatch)  Maybe some people like to say, "I told you so," but I've been around way too long to feel any such pleasure when one of my lonely analyses turns out to have been right on, some 15 months later.

Probably the only reason you are reading my posts here at Bnet at all is due to a certain piece I wrote on one of my personal blogs, back in January 2008, expressing my skepticism about whether Al Gore's Current TV would be able to pull off what it then projected would be a $100 million IPO.

Yep, I was asked to write for Bnet on the basis of that particular post.

Well, today, Current Media finally announced that it has canceled plans for that $100 million IPO. In a filing with the SEC (Securities and Exchange Commission, Current blamed its move on "current market conditions."
I beg to disagree. This company has never presented a compelling business model that would justify such a huge investment of our common resources as to commit hundreds millions of our collective savings on its behalf.

What was clear to me back then has finally been admitted to be true by the company's leaders today. Lesson? Beware of hustlers!