Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Innovation & Design

AOL—Crashing


In 1985, the same year Quantum Computer Services (now AOL) was incorporated, the film "Brewster's Millions" hit theaters. In a nutshell, the film follows the folly of a man given US$ 30 million with a mandate to make it disappear in 30 days with nothing to show in its place; plus he can't tell anyone what he's doing. The symbolism shouldn't be lost on anyone familiar with the story of AOL. (Conspiracy theories have emerged detailing how parent company Time Warner may be secretly scuttling AOL in an attempt to screw Google.)

The fine details of AOL's afflictions will not be re-re-re-re-counted here except to say that the company went from being worth around $200 billion in 2001 to an estimated $20 billion today. (AOL values based on estimate and raw guess partly attributed to Google's purchase of five percent of AOL for $1 billion.) It's like the US becoming as economically powerful as Spain by 2011, or similar in dramatic plummet to Britney Spears' Q rating. From its high of over 30 million subscribers, AOL now claims somewhere under 19M; it estimates a loss of another six million within the year. And it gets worse.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus