Mr. Butt, meet Mr. Perkins: Dan Fost of the SF Chronicle does a round-up (an obituary?) on the demise of “new economy” magazines.
Ironically enough, (Tony) Perkins (founder of The Red Herring) had also written a book (with his brother, Michael), “The Internet Bubble,” which pointed out the folly of dot-com companies’ absurd market valuations. Yet Red Herring grew like a dot-com, throwing lavish parties and conferences, hiring scads of people, looking to expand into other media and launching a large-scale Internet arm. “I knew there was a bubble and that it would burst,” Perkins said. “I didn’t know my own butt would be handed to me in the process. The bubble became a lot greater than I thought.”
So, wait. Even I knew that when the ceo and editor-in-chief of a tech industry magazine declares in a book that the industry his company depends on for survival is about to die, that his magazine would be one of the victims . However, from experience, I appreciate how hard it is to recognize your butt when it is being handed to you.