A couple of nights ago the Rog and I watched the documentary “Enron: The Smartest Guys in the Room.” It was an excellent film—sort of a period piece (is it okay to refer to the Internet boom of the 90s as a “period” yet?), a morality tale, and a psychological study all rolled into one.
Some might find this a little far fetched, but I couldn’t help but be reminded of my 5 ½ year stint at LookSmart, my first and possibly last foray into the World ‘O Web. No, LookSmart didn’t swindle thousands of people out of millions of dollars, or cause utterly unnecessary power outtages in California, or stash unfathomable debt in mock corporations while its stock price went up and up and up—I’m definitely stretching a metaphor here. But there are some similarities. For example:
• Both Enron’s and LookSmart’s top executives were charismatic, visionary and idealistic. They sold their employees a bill of goods without a sustainable business model, and everyone drank the Kool-Aid.
• Employees at both companies became obsessed with the rising stock price and the possibility of becoming rich. (At LookSmart, we were routinely told by managers that we’d all be able to buy houses soon).
• At both companies, the promise of untold riches ultimately served to corrupt the young workforce. Greed, arrogance and outlandish behavior became the order of the day. Social Darwinism thrived.
• Both companies ultimately imploded under the weight of their bloated excesses. (Technically LookSmart is still around, but it’s barely breathing.) Massive layoffs ensued and a lot of people are still in serious debt.
• A handful of former executives of both companies managed to sell their massive shares before the stock made a precipitous nosedive, and then simply disappeared. (I’m looking at you G$$). I’m convinced there’s some unmapped tropical island where thousands of top dog refugees from failed Internet companies are sunning themselves decadently while succumbing to the last stages of cirrhosis of the liver.
I could go on, but I think you get the picture. Now, that’s not to say that there wasn’t a lot of good that came from the LookSmart experience. I, for one, learned a lot, grew up a lot, had a shitload of fun, and met some truly amazing people, several of whom are now some of my dearest friends. But man oh man am I glad it’s over. For a lot of those poor, former Enron employees and their families (I’m not referring to the worst of the day traders here—they can rot in hell), it’ll never really be over. The company simply ruined their lives.
So rejoice, former LookSmartians! We escaped, and we live to tell the tale.
