Henry Blodget was once known for the fraud and deception that he practiced as a stock analyst, pumping up the valuations of companies during the great Internet boom. Following the bust, he was banned from the securities industry for life. But he didn’t go to jail, because only poor bad people go to jail. Rich bad people reinvent themselves. In Blodget’s case, as the founder of the online Business Insider, where he’s still pimping for profit-free companies like Amazon.
In a recent issue of New York magazine he was quoted as saying “Digital Advertising is growing fast, our revenue is growing fast, and I don’t see anything that is going to stop that shift”.
We do. How about ad blocking software? It should be illegal, but is growing fast. Or simple digital piracy, of which ad blocking software is really a type. Or the massive inventory of digital ad space? Or the fact that people barely read these days, preferring to just look at pictures and video?