The Kevin Rose cover story in BusinessWeek magazine has been receiving a lot of attention in the blogosphere. The cover claims that “This Kid Made $60 Million In 18 Months.” Pundits are largely taking umbrage, as collected by ValleyWag:
- How Paul Scrivens, Mike Rundle, Colin Devroe, and Tyme White All Made Billions In 12 Months
- The Users shouldn’t be paid… but I’ll take $60M
- Business Week on the Valley Boys
- The New Brat Pack of Silicon Valley
- Forget Paper Millionaire, Digg Founder’s A Vapormillionaire
- OMG, Like, Totally, Digg
- Don’t believe BusinessWeek’s bubble-math
I agree with what some of these guys are saying: the number is wholly inaccurate. Kevin and the Digg brand are likely worth twice that amount.
- Community is worth its weight in gold. So, let’s have every Digg member submit their weight and then compare that resulting number to today’s gold prices. My guess is that it’s slightly more than
$60m$200m. Bubble or no bubble, COMMUNITY LIKE THIS DOES NOT DISAPPEAR!!!
- Brand is worth twice the amount of your community. Again, let’s do some weight measurements here.
- Kevin’s a good guy – genuinely. I knew this from the first time I met him on the Call for Help set (he was sitting with Cat and Morgan in the chat area for TSS). And you know what? I’ll trade one Kevin for a hundred Silicon Valley snakes any day of the week. A good guy is priceless (especially in this industry).
- I bet any businessperson on this planet would give up their testicles (or ovaries) to have the power of Digg at their disposal. How much is that worth? Digg is just getting warmed up.
- Let’s just stop and think about how much revenue has been generated from the sites that have been digg’ed. Not Digg, itself – the pages that get featured. That number is likely in the millions, I’d imagine.
Now, for those who would quibble over BusinessWeek using the word “made,” I offer you a definition from Answers.com. According to them, “made” is an adjective:
- Produced or manufactured by constructing, shaping, or forming
- Produced or created artificially
- Having been invented
- Assured of success
Uh huh… so, what’s the problem with “made” here? As with any word defined in the English language, it only needs to assume a single meaning. I read it as “Assured of success.” And yes, I believe that Digg (and its entire community) is worth more than
$60m $200m today. Then again, I’m an idealistic sonofabitch. Even if Kevin was a billionaire, I’d still insist on buying lunch for him.
I went back and corrected the numbers – though my position still stands. The value of both Rose and Digg are beyond imagination.