The Snowball network has had a sweeping realization: selling banners in an imploding ad market is HARD.
With the banner market collapse going on the way it is, I can’t really blame them for doing this-it’s the only way they can save their ill-conceived business plan. They have to shamelessly change their contract agreements in midstream, but it’s that or pay nobody. Just for future reference, attracting customers by making promises you can’t keep without insane market growth and loads of venture capital is a bad idea. Well, maybe it’s a good idea in the short term, but good luck getting your customers to trust you in the future-especially in a market (internet fantasy money) where company bankruptcies are so common they’ve made games out of them.