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.
4 comments:
Good post, Cleg. I saw the Enron movie recently, too, and was likewise reminded of LS. It sorta made me regret that no one really documented that experience (this blog and the somewhat overly bitter Wikipedia entry notwithstanding). Although, at the same time, it's kind of cool that an oral history has sort of developed among the former employees. We all have memories of the milestone events (the boat party) and the mini-eras (the IPO period), yet we remember these things in various colorful ways. It brings a mythical quality to what was often a dreadful place to work. Still, I'm convinced that a documentary film about Looksmart could bring together some of the best elements of "Enron: The Smartest Guys in the Room" and "Startup.com."
Just watched the Enron documentary, which I thought was terrific. I can't say that I was reminded of Looksmart too much though, other than the obvious parallels with stock-price obsession and massive layoffs -- two things which many companies at the time, particularly dot-com companies, shared in common.
I think I left LS just before the controversy over execs dumping their shares percolated -- or, maybe I was just too wrapped up in my own naive self-righteousness. (I also left before the boat party -- blast!) In any case, when all's said and done, I (like Cleggie) am largely grateful for my LS experience. Again, maybe it's my naivete speaking, but I don't remember much social Darwinism happening at the company. Unlike the day trader scum at Enron, we didn't really stand to gain anything from screwing others over, nor was the culture there one of unrepentant machismo and greed. I think Startup.com captured the peculiar corporate culture of dot-coms quite well. (E-dreams was a good movie as well, but Startup.com was better. Needless to say, it was a little painful watching each of them.)
I'm with Brian. Don't y'all think an LS documentary is long overdue? What happened to all the supposedly creative people that we worked with? Aspiring filmmakers, start here for inspiration:
http://tinyurl.com/qzb98
Hey fellow former LSMartians! Thanks for taking the time to respond to my post. I think we all remember the LS days in different ways, which isn't too surprising considering that memory is pretty much subjective anyway. I do vividly recall a lot of cutthroat behavior, but there was a lot of coolness too. I also love the idea of an LS documentary. I've added a cast concept. (I've added to the cast wishlist. Hey who'll play me, btw?). You know, I'll be Al & Latiner still have those Edible videotapes. Hmm...
the documentary continues for some of us. But I am hoping to say "That's a wrap!" soon. Wish me luck, Cleggie!
Post a Comment