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...finely tuned assembly line is the brainchild of Demand's co-founder Richard Rosenblatt. Best known as the CEO of Intermix Media, owner of MySpace, when the company was sold for $580 million to News Corp. in 2005, Rosenblatt says he learned from his experience with social networks that there were plenty of people producing reams of data online. "But only 1% of that was relevant to more than just people's friends," he says. "What if we could find a way to find those content creators, tell them what to write and create a broader audience...
...result is a company that's able to produce profitable content on a scale that traditional news organizations can only envy. Demand estimates that it took in $200 million in revenue in 2009, enough to turn a profit. It helps that none but the company's most prolific content creators get health insurance or, for that matter, a minimum hourly wage. Critics have dubbed the company a digital sweatshop. Jay Rosen, a journalism professor at New York University, has called Demand "demonic," and many writers prickle at the thought of being paid a few cents - rather than a few dollars...
...much as Demand execs say they don't want to do journalism, they think they can offer it some help. The company envisions its how-tos running alongside stories in more traditional media, sharing revenue and reducing the need for news outlets to produce certain types of service-oriented content. "We're not saying we're going to save traditional media. That's arrogant," Rosenblatt says. "But we're definitely not going to kill...
Uncertainty surrounding the upcoming general election and news that the nation's economy has further contracted have caused the British pound to decline 7.3% against the U.S. dollar this year, with most of the drop occurring within the past month. Worth almost $2 in 2008, the pound now sits just below...
Sources: AP; CNN; Calgary Herald; USA Today; AP; Twitter; Fox News...