Pulp to Pulp – Time Inc Shutters Business 2.0
Sigh, another one gone. Yes, Time Inc has decided to close Business 2.0 with no shot for someone to purchase and revive it. This announcement takes me back to the end of The Industry Standard along with the physical copy of Red Herring. In their hey day, they were tomes with the thud weigh rivaling most yellow page directories. Packed with plenty of ads along with news, analysis and some dreams, they trumpeted fast growth, brilliant entrepreneurs and a limitless sky for new ideas, businesses and revenue.
For many start-ups and their PR reps, these publications were a great way to introduce a service or product that used the power of the web and really showed how many ideas could thrive. Landing time with Rafe Needleman (Red Herring) meant the possibility of solid coverage — though a CEO had to be prepared to defend their claims as Rafe carried a BS detector with a sensitive needle.
At the same time, it was a heady period for journalists who had a stream of never-ending stories and CEOs to interview. They had endless opportunities to hear about new ideas, Web exploits, financial madness and analysis. It opened the door to a new era of online journalism that we are still seeing play out now.
The party couldn’t last — reflecting the fast decline of so many companies (many burning through millions on their way out), any number of publications shut their doors. We saw a rapid end to press kits, tours, fast-paced interviews, tradeshows (remember Internet World?) and crazy clips.
Where does this trip down
This round of the thinning of the publications has a different ending. Whereas the last time really meant the drastic reduction in outreach and media pitches, the maturity of the web offers a second life to both PR pros and journalists. Both groups can blog, report, interact with consumers and establish a powerful presence that we didn’t have a decade ago. Both journalists and marcom folks with lots of years of experience and knowledge have a place to ply their wares and offer up their analysis and insight.
Yes, we’ll miss Business 2.0, but look forward to seeing where the writers land next and what they have to say next. What do you think?