The problem is treating these things as gambles. When you look at Facebook, their success is a result of understanding their product and its potential pretty da

The problem is treating these things as gambles. When you look at Facebook, their success is a result of understanding their product and its potential pretty damn well, then working extremely hard to bridge the gap between the two. If you're going to plunk down $500m on a company, you should have a very clear idea of what you want to do with it and how you're going to grow it. MySpace was bought by a big ass dinosaur who thought "being successful on the internet" was as simple as writing a check – or buying a sack of magical beans.