The Fight For Survival

The easy money is gone. Investors are wary. Can dot-coms manage the crisis?

Just a few months ago, was the model of Internet ambition. Fueled by pools of money from venture capitalists, the New York City Net-media company was cranking out enough original TV-like programming to fill 10 Net channels. It was like starting up 10 TV stations all at once. But on Friday, June 23, Chief Executive Officer David Bohrman assembled the company's employees in its Soho offices and explained that Pseudo needed to change course. To conserve cash, it would concentrate its resources on one combined channel, Pseudo Center, that would offer its most popular shows on hip- hop, games, and other topics. Sixty of the 240-member staff would lose their jobs. As employees gathered in the corridors, a few began to cry. "It's not unlike losing a family member," says Jeanne Meyer, a senior vice-president at Pseudo. "It's a physical grief."

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