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Tuesday, January 6th, 2009
articles.php?which=ItWasAWhatWeekInABadWay
It Was A Record-Breaking Week. In A Bad Way.

It was unquestionably another rough week for business and the economy, so it's no surprise that we have another (gulp) healthy list of failures this round. Here's who didn't weather the storm:

-Probably the real shock about this item is not the flop—it's the reminder that AOL is still around. This week the venerable ISP decided that the user-generated content part of their business isn't worth all that—or anything at all, actually. They closed their Journals blog and the webpage-hosting service AOL Hometown.

-Rumors are swirling that the death knell may have sounded for social networking site Uber.com. Its investors pulled the plug late last week, and the start-up is blaming the crappy economy for their misfortune. We're wondering though whether it had more to do with the fact that Uber is to social networking what AOL now is to the Internet: irrelevant.

-Start-up ad network Jellycloud went under this week, along with the $51.5 million in seed capital they'd raised. The company was the new incarnation of Gator, a start-up that was caught spying on users. Given that, we're not terribly inclined to shed tears over this one.

-As we noted earlier this week, start-up EyeSpot also hit the skids, announcing that they're closing their doors. We won't beat a dead horse.

-Apparently the blogosphere isn't immune the economy's woes either. Gawker Media mogul Nick Denton announced today that he's cutting staff at several his blog sites - by as much as 60% at some sites—including Valleywag, the Silicon Valley Gossip blog we heart.

-As if the economy doesn't have enough trouble, things took an even bleaker turn today for American workers. New data out today reveals that companies are shedding (that's nice-talk for "lay off") workers at the fastest past in more than five years, according to the Wall Street Journal.

RIP, all.

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