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As NBC continues its due diligence in advance of a possible purchase of Tribe.net, a grass roots effort by Burning Man participants to buy Tribe.net themselves is developing.
Tribe.net is a social networking site organized by groups. There are thousands of groups, but the single largest one is the Burning Man Tribe with 11,868 members.
Now, I don't know how far Tribe.net's valuation has fallen since it raised $6.3 million from Mayfield, Knight Ridder and Washington Post Co. in 2003. But, if reports of a $5 million purchase price are to be believed, then each Burning Man Tribe member would have to chip in only $421. Not a bad deal. But considering the fact that no money changes hands at the annual desert festival, it's unclear if all the members could come up with that amount of cash by closing.
Better yet, the Burning Man fans should leave Tribe.net to NBC and cast their acquisitive eyes to an even more downtrodden social network in search of a buyer. That, of course, would be Friendster.
It's truly amazing to read how in such a short piece you're able to throw together three significant false statements of fact. Here's a hint: (1) amount Tribe raised to date, (2) Burning Man Tribe's desire or ability to purchase Tribe, (3) Friendster's status in relation to Tribe. Bonus if you can figure out 4th item that makes this post completely worthless. Do your research before posting this stuff, but you're not alone in the blogosphere.