Hey, Internet entrepreneurs–the CEO of global marketing powerhouse Publicis thinks you’re a bunch of dreamy morons. Specifically, he thinks you’re going to end up selling those billion-dollar dreams for pennies on the dollar–just like your pie-in-the-sky forbears back in the late 90s. And, yes, like everyone else these days (except Rupert Murdoch), he thinks MySpace’s best days are behind it.
“Just give up, already–you’re screwed.”
“Everyone is seeing advertising as the manna,” said Maurice Lévy, chairman and chief executive of Publicis, one of the world’s largest marketing groups. “Far too many people are building plans based on advertising and they may well be disappointed because there is not enough money for everyone…
It’s exactly the same situation as we saw at the end of the 1990s, when everyone thought that because he had a website he’d get the valuation. Now everyone building a Web 2.0 operation believes he will receive the advertising.”