“Panos’ Brew” is Sonicbids founder/CEO Panos Panay’s weekly (or more) post about whatever happens to be on his mind. Look for musings and observations on entrepreneurship, the state of the music business, his experiences with members, interesting things he’s seen in his travels, or just about anything else.
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Jun 16
The big news of the day is the lay offs at MySpace. After a management shake up in April, the company is laying off about 30% of its staff (which will remain at a still robust 1,000).
I know many folks at MySpace and as a businessperson, I understand these decisions – they are painful but sometimes necessary. The broader question is, can MySpace get its mojo back? With its Google advertising deal scheduled to expire in 2010 and its social relevance in free fall, what’s the second act?
Not sure if I see their way out of this one.
Panos
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