Meerket is plummeting. Everyone but their investors saw this coming.
Look, tech journalism is pretty awful, with very few and far between exceptions. Writing about technical, complex, sprawling ideas is fucking hard.
It seems that when faced with actual news (or lack thereof), most tech hournalists just regurgitate the latest press release emailed to them.
Which brings us to Meerkat, which took off during SXSW. Meerkat's founders cashed out to the cool tune of $14 million.
Jared Leto must feel like moron - he's part of the media. He, of all people, should understand artificial hype. Doesn't he have a PR firm?
Meerkat never exceeded any normal expectations for those of us that read about it early.
I remember seeing murmurs of a live-streaming service essentially bootstrapped to Twitter - cool, call me when Twitch.tv does it better. (Although Twitter itself actually destroyed Meerkat with Periscope, launched on the same day).
When will tech journalism learn from getting owned by the same VC's and media firms? When will they start questioning if something really is the next big thing? When will they stop copy/pasting press releases?
Google Glass, Amazon's Drone Delivery Service, Google Self Driving Cars, etc.. the tech media is easily manipulated by floating new technologies in a demo.
Is the tech practical? Affordable? Popular? Does it actually work? WHO THE FUCK CARES, PUT IT ON THE FRONT PAGE.
Tech companies can benefit from the short-lived memories of the tech journalism establishment - who wants to go back and catalog all of the false promises these companies have made before?
Just post the press release - beats working.