TechF*cked

This one has been a couple weeks coming… Bolt.com has officially announced it is ceasing operations. After copyright lawsuit debts amounting to $10 million, and the news on August 1st that GoFish.com was not longer in the hunt for Bolt, it’s over.

I’m just not understanding the economics behind this one. If anyone has any financial states, I would love to see them. I don’t put much faith in silly website rankings, but there’s no joking around with a Compete rank of 112. I’m assuming the copyright lawsuits also included cease and desist judgment for much of the content on the site. But still, with all the money being thrown around right now, it seems as if someone could’ve turned such a high trafficked site down a new path. Oh well, I guess that’s just more traffic that has now become available for the rest of us, right? :-\