#dan primack

Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag “well below” $20 million. The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. The network was acquired by Yahoo for $1.1 billion in 2013, before moving under Verizon’s umbrella through the carrier’s acquisition of Yahoo in 2017. Verizon’s desire to sell Tumblr had been previously known, but as of May, Pornhub had been the only bidder to show public interest. Automattic Inc. will buy the network and take on its 200 employees. Between the lines: Tumblr has faced backlash over the years for not properly monitoring pornographic content, which Verizon ultimately banned last year. Automattic’s Chief Executive Matt Mullenweg says he plans to maintain the ban.

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I have learned some lesson that may help you become a better investor.

Asset allocation, while increasing in size, will at the same time be hollowed out by the deflation of quality and commoditization of the underlying asset.

Let’s not forget: Venture Capital exists courtesy of great entrepreneurs building highly monetizable innovations.

While in the relationship between entrepreneur and venture capitalist unilateral transparency is required, venture capitalists still bask in the glory of darkness.

Let’s not forget: Venture Capital exists courtesy of great entrepreneurs building highly monetizable innovations.

It is time for asset managers to “come to Jesus” and face a new evolutionary reality of asset management.