Some sad news, a start up Blog/Political site is going south…:
Sometimes there are simple stories. Culture11’s is one of them. We raised a certain amount of money last year predicated on the assumption we would raise more money last year. Then the Fall’s fall occurred and we stretched money as long and far as we could without incurring any debts. With no new money in the door the board decided the most prudent thing to do was suspend business operations. That is a way too technical way of saying that there are now 14 people who worked very hard for this company who are looking for new jobs because theirs disappeared. These people do not deserve to be out of jobs and yet they are. The economy racks up more victims.
A friend reminded me that Orson Welles once said that if you want a happy ending, it depends on where you choose to stop your story. This then isn’t the end – we are proud of the articles we commissioned, edited, and wrote, the blogs that we posted, the conversations we joined and sometimes started and the platform we created. Our hope is that we will be able to keep it alive and that we might continue to be a center for conversation, debate, and community. In that sense more than ever we turn Culture11 over to you.
This is why I would never do a start up job. There’s just always that risk involved. Just more proof that the Economy is in terrible shape.
Wish all the guys who got let go, all the best in these tough times.
I just wonder why they haven’t tried a fund raiser?
Others: The League of Ordinary … and Eunomia