Josh Brown, from Reformed Broker, penned an eloquent, well thought out piece, regarding the rise and the fall of TheStreet.com and how he would save it. Well, unfortunately for all parties involved, there are no zombies on the web. Once you’re dead, you’re dead forever, in the stylish world of social media.
TheStreet.com is grandpa’s old tux with blue ruffled shirt to match.
Once you’ve lost the “it” factor on the web, you are done. The reason why TST failed has everything to do with Cramer. As largest shareholder and Chairman of the company, he should have made smarter decisions, such as firing 90% of the workforce. I’d replace them with gorillas, who’d unwrap bananas for me, to be sold at my local A&P.
It’s theft to have 300 employees at that albatross of a company. With newspapers folding on a daily basis, there is an overabundance of talent out there who will work for peanut shells (save the peanuts for execs). I’d put 5 guys in charge of news and offer them a $30k base salary, with generous stock options if they hit their goals.
I have other ideas; but it’s an exercise in futility. Once Mad Money gets canceled, or when Cramer retires, TST will go straight to $00.00.
The only way TheStreet.com will make it is if they create or buy another website, and totally disassociate it away from their fucked up brand–sort of like how Yahoo owns shit that is now worth more than Yahoo.
But you know that’s not going to happen. Therefore, the inevitable will occur: TST to zero.