ChasNote

Henry Blodget makes that case at SAI.

“A glance at the financials — shrinking revenue, losses, declining market share, loss of mojo and market leadership — would suggest that the company might be worth 1X-2X revenue — on the assumption that MySpace could cut costs radically and make a bit of money in the next few years. That would put the valuation at about $500 million to $1.2 billion — with the lower end being LESS than Rupert paid for it, and the upper end being twice what he paid for it (hardly the steal of the century)….

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And that’s one of the rosy scenarios.

“….MySpace might actually be worth next to nothing…. the Internet is a winners-take-most game. ??????? ? ????? ? ??????

“Yahoo won the portal wars — and Lycos, Infoseek, and Excite were discarded like garbage on the side of the road. Google won the search wars. Facebook is now winning the social-network wars.”