Wrote about this earlier in the week after seeing it on a number of news programs. As is usually the case, it seemed a little too clever and smelled kinda funny…
The BBB says its concerned about gasoline-hedging company MyGallons.com and its ability to live up to the advertising claims on its website. A spokesperson for the BBB tells us that the biggest “red flag” they’ve discovered is that MyGallons claimed (in their press release) to have partnered with US Bank. However, when the BBB called US Bank to confirm this, they found out that it wasn’t true. US Bank had discussed the opportunity with MyGallons, but had declined. According to the BBB, despite the fact that they have no contractual agreements in place to process transactions, MyGallons is still signing up new customers.
[From Mygallons: BBB Says MyGallons.com "Omitted Fact" In Advertising, Has No Contract To Process Transactions]
The part about “17th round of venture financing” is particularly side splitting funny.
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[From iowahawk: The "Q" is for "Quality"]
ugh, bad news for the entire advertising industry… that’s dimming light you see? The fading monetization hopes of an entire generation of consumer web 2.0 sites. Interesting call today with someone high up in one of the big online ad networks, he said that already have so much inventory that adding more isn’t a priority for them. Me thinks a major realignment in online ads is coming and coming soon.
As the economy stumbled in the second quarter, magazine ad sales fell more than 8 percent, with the steepest drops in ads for vehicles and for computers and related equipment, according to a report released Thursday.
[From In Deepening Ad Decline, Sales Fall 8% at Magazines - NYTimes.com]
Democrats want commercial free zones on user generated content sites when it comes to content created by members of Congress. In essence what the Dems are saying is that elected representatives don’t have rights to content they produce and commercial sites that provide UGC services don’t have any ability to monetize when it comes to this content.
And the Republican plan offers a reasonable standard — encourage but not require commercial-free areas of social sites. Requiring it would create some clear property rights issues. The terms of service on most Web 2.0 sites state that once uploaded, your content is owned by the site — doesn’t matter if you’re the President of the United States or doing basement videography. That site has the right to monetize that content (which they own) as they see fit. To prevent them from doing so is a taking of private property.
[From Republican = Open, Democrat = Closed | The Next Right]