Tag Archives: IPO

Around the Web October 4, 2013

According to the London School of Economics and Political Science, online piracy isn’t having the negative effects that the entertainment industry would like us to believe. The movie industry, who has been harassing us with anti-piracy ads before movies for years now, seems to be the worst culprit. They actually had record profits of $35 billion in 2012. The music industry, who has been crying about how piracy is killing record sales, was able to make up those losses in other ways. Guess this info makes Metallica look like bigger morons than they already are. Maybe next time they won’t go whining to Congress that someone downloaded their album.

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The other surprising fact was how wide spread piracy actually is. 45% of Americans admit to it and 70% of those under age 30 do.

While super spy Nick Fury has no trouble keeping secrets, it seems that Sam Jackson isn’t quite as good. Mr. Jackson accidentally (or not, wink wink nudge nudge ) leaked that Scarlet Witch will be played by Elizabeth Olsen in The Avengers: Age of Ultron . Olsen, younger sister of the infamous Olsen twins, recently made a name for herself in Martha Marcy May Marlene. No word yet as to who will be playing her twin brother Quicksilver.

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Since I didn’t know this Olsen even existed until this announcement, I’m going to do my best to keep an open mind and just hope that she’s a better actress than her sisters.

In very fitting fashion, Twitter announced its IPO with a tweet. Yesterday, Twitter filed the paperwork for their IPO and opened the doors to allow a peek in at their finances. Unfortunately for Twitter, what people are seeing isn’t as good as they might have hoped and certainly not as good as other social media outlets like Facebook. There are serious questions about the growth of Twitter’s user base, which has slowed notably in the recent quarter in addition to questions regarding Twitter’s ability to capitalize on advertising.

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Let’s be honest, this is really fitting.

While I think social media is quite useful–hence the fact I’m writing a blog–I just can’t see these companies being able to maintain the kinds of profits that stockholders demand. If anyone doubts that social media outlets can fail, I would counsel them not to forget Myspace.

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