This story was written by Keith Dawson for the Industry Standard's Media Grok email newsletter. It is archived here for informational purposes only because The Standard's site is no more. This material is Copyright 1999-2001 by Standard Media.

Pseudo.com Says Buh-Bye
Sep 19 2000 12:00 AM PDT

Despite covering the political conventions - or maybe because of it - the streaming-media purveyor shuts down.


Pioneer Net broadcaster Pseudo.com this morning enjoyed the unlucky distinction of headlining the dot-com dead pool Fuckedcompany.com.

Inside and CBS MarketWatch were among the first with the news that the streaming-media purveyor had laid off all of its employees and ceased operations. MarketWatch's Viktorya Tobak based the story on a phone call from an ex-employee, and ran with it in the absence of official confirmation. Tobak noted that Pseudo's core problem - production and operating costs far out of proportion to revenues - is widespread in the digital entertainment industry. She cited the broadcaster's coverage of the Republican and Democratic conventions as "just one example of the vast sums of money being spent for very little return in terms of traffic and advertising for the site." Inside's detailed coverage walked readers through a hellish day for Pseudo employees and provided deep context.

News.com's Evan Hansen broke from the pack to attribute Pseudo's demise to its pioneering nature, rather than to structural problems in its business model. In a separate News.com story, Jim Hu reported the layoff of 30 people at CMGI's iCast subsidiary. An iCast spokesman said the layoff didn't signify anything, really. Trend, what trend? - Keith Dawson

The Lights Go Down on Pseudo
The Industry Standard

Pseudo.com Sends Everyone Home After Failing to Find a Business Partner
Inside

Pseudo.com Shuts Its Doors
CBS MarketWatch

Like Ten Thousand Spoons When All You Need Is a Knife
Fuckedcompany.com

Pseudo Programs Shuts Down, Laying Off All 175 Employees
Wall Street Journal
(Paid subscription required.)

Pseudo Programs to Lay Off 58 Workers Amid Reorganization (June 23, 2000)
Wall Street Journal
(Paid subscription required.)

Webcaster Shuts Doors as Money Runs Out
CNET

CMGI's iCast Lays Off 30 Employees
CNET