Week in Review: Snapchat beats a dead horse

Hey. This is Week-in-Review, where I give a heavy amount of analysis and/or rambling thoughts on one story while scouring the rest of the hundreds of stories that emerged on TechCrunch this week to surface my favorites for your reading pleasure.

Last week, I talked about how Netflix might have some rough times ahead as Disney barrels towards it.


3d video spectacles 3

The big story

There is plenty to be said about the potential of smart glasses. I write about them at length for TechCrunch and I’ve talked to a lot of founders doing cool stuff. That being said, I don’t have any idea what Snap is doing with the introduction of a third-generation of its Spectacles video sunglasses.

The first-gen were a marketing smash hit, their sales proved to be a major failure for the company which bet big and seemingly walked away with a landfill’s worth of the glasses.

Snap’s latest version of Spectacles were announced in Vogue this week, they are much more expensive at $380 and their main feature is that they have two cameras which capture images in light depth which can lead to these cute little 3D boomerangs. One one hand, it’s nice to see the company showing perseverance with a tough market, on the other it’s kind of funny to see them push the same rock up the hill again.

Snap is having an awesome 2019 after a laughably bad 2018, the stock has recovered from record lows and is trading in its IPO price wheelhouse. It seems like they’re ripe for something new and exciting, not beautiful yet iterative.

The $150 Spectacles 2 are still for sale, though they seem quite a bit dated-looking at this point. Spectacles 3 seem to be geared entirely towards women, and I’m sure they made that call after seeing the active users of previous generations, but given the write-down they took on the first-generation, something tells me that Snap’s continued experimentation here is borne out of some stubbornness form Spiegel and the higher-ups who want the Snap brand to live in a high fashion world and want to be at the forefront of an AR industry that seems to have already moved onto different things.

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On to the rest of the week’s news.

tumblr phone sold

Trends of the week

Here are a few big news items from big companies, with green links to all the sweet, sweet added context:

  • WordPress buys Tumblr for chump change
    Tumblr, a game-changing blogging network that shifted online habits and exited for $1.1 billion just changed hands after Verizon (which owns TechCrunch) unloaded the property for a reported $3 million. Read more about this nightmarish deal here.
  • Trump gives American hardware a holiday season pass on tariffs 
    The ongoing trade war with China generally seems to be rough news for American companies deeply intertwined with the manufacturing centers there, but Trump is giving U.S. companies a Christmas reprieve from the tariffs, allowing certain types of hardware to be exempt from the recent rate increases through December. Read more here.
  • Facebook loses one last acquisition co-founder
    This week, the final remnant of Facebook’s major acquisitions left the company. Oculus co-founder Nate Mitchell announced he was leaving. Now, Instagram, WhatsApp and Oculus are all helmed by Facebook leadership and not a single co-founder from the three companies remains onboard. Read more here.

GAFA Gaffes

How did the top tech companies screw up this week? This clearly needs its own section, in order of badness:

  1. Facebook’s turn in audio transcription debacle:
    [Facebook transcribed users’ audio messages without permission]
  2. Google’s hate speech detection algorithms get critiqued:
    [Racial bias observed in hate speech detection algorithm from Google]
  3. Amazon has a little email mishap:
    [Amazon customers say they received emails for other people’s orders]

Adam Neumann (WeWork) at TechCrunch Disrupt NY 2017

Extra Crunch

Our premium subscription service had another week of interesting deep dives. My colleague Danny Crichton wrote about the “tech” conundrum that is WeWork and the questions that are still unanswered after the company filed documents this week to go public.

WeWork’s S-1 misses these three key points

…How is margin changing at its older locations? How is margin changing as it opens up in places like India, with very different costs and revenues? How do those margins change over time as a property matures? WeWork spills serious amounts of ink saying that these numbers do get better … without seemingly being willing to actually offer up the numbers themselves…

Here are some of our other top reads this week for premium subscribers. This week, we published a major deep dive into the world’s next music unicorn and we dug deep into marketplace startups.

Sign up for more newsletters in your inbox (including this one) here.

Voyage’s driverless future, ghost work, B2B growth strategies, and Black Hat takeaways

Inside Voyage’s plan to deliver a driverless future

In the autonomous vehicle space, startups have taken radically different strategies to building our AV future. Some companies like Waymo have driven all across different types of environments in order to rack up the datasets that they believe will be needed to effectively maneuver without a human driver.

That’s the opposite strategy of Voyage, where CEO and founder Oliver Cameron and his team have focused on driving safety in the incredibly constrained context of two retirement communities.

Our transportation editor Kirsten Korosec talked with the company and analyzes their approach in a new profile for Extra Crunch, and also drops some news about a partnership the company has brewing with a major automotive manufacturer.

Cameron, who shies away from discussing timelines, describes the company as inching toward driverless service.

Its self-driving software has now reached maturation in the communities it is testing in, and Voyage is now focusing on validation, according to Cameron.

Voyage has developed a few systems that will help push it closer to a commercial driverless service while maintaining safety, such as a collision mitigation system that it calls Rango, an internal nickname inspired by the 2011 computer-animated Western action-comedy about a chameleon.

This collision mitigation system is designed to be extremely fast-reacting, like a reptile — hence the Rango name. Rango, which has an independent power source and compute system and uses a different approach to perception than the main self-driving system, is designed to react quickly. If needed, it will engage the full force of the brakes.

Startup ads are taking over the subway

Public transit is just swimming in startup ads. From complete Brex takeovers of the San Francisco Caltrain station to the sleep puzzles posted by Casper across the New York City subway, startups have been taking advantage of this unique out-of-home advertising space. What’s the full story though? Our reporter Anthony Ha takes a look at how the subway ad market came to be in the past few years, and what the future holds for other marketers.

What will Tumblr become under the ownership of tech’s only Goldilocks founder?

This week, Automattic revealed it has signed all the paperwork to acquire Tumblr from Verizon, including its full staff of 200. Tumblr has undergone quite a journey since its headline-grabbing acquisition by Marissa Mayer’s Yahoo in 2013 for $1.1 billion, but after six years of neglect, its latest move is its first real start since it stopped being an independent company. Now, it’s in the hands of Matt Mullenweg, the only founder of a major tech company who has repeatedly demonstrated a talent for measured responses, moderation and a willingness to forego reckless explosive growth in favor of getting things ‘just right.’

There’s never been a better acquisition for all parties involved, or at least one in which every party should walk away feeling they got exactly what they needed out of the deal. Yes, that’s in spite of the reported $3 million-ish asking price.

Verizon Media acquired Tumblr through a deal made to buy Yahoo, under a previous media unit strategy and leadership team. Verizon Media has no stake in the company, and so headlines talking about the bath it apparently took relative to the original $1.1 billion acquisition price are either willfully ignorant or just plain dumb.

Six years after another company made that bad deal for a company it clearly didn’t have the right business focus to correctly operate, Verizon made a good one to recoup some money.

Aligned leadership and complementary offerings drive a win-win

WeWork S-1, building marketplaces, improving content marketing, and the demise of Tumblr

WeWork’s S-1 misses these three key points

After much discussion, WeWork finally dropped its S-1 filing with the SEC today as it makes preparations for its IPO. While the company has been producing sizable revenues the past few years, the company didn’t disclose everything I think it needed to in order for investors to make a judgment about its financial future.

It’s not as though WeWork hasn’t tried to give us some insight in its S-1. One of WeWork’s core operating metrics is “contribution margin including non-cash GAAP straight-line lease cost” (or what I will abbreviate just this one time as CMINCGAAAPSLLC). Through this metric, the company offers us a single number into the health of its business — essentially a way for investors to understand the performance of the company’s mature office locations.

[…]

What’s missing here though is that WeWork has aggregated its finances for hundreds of locations down to a summary statistic, complemented with a huge amount of text devoted to describing the evolution of a property from lease signing to mature profit-making office. At no time does the company describe the contribution margin and how it changes throughout the course of a single lease. Instead, it provides the following completely numbers-free chart showing that … it makes more money as time goes on.

How even the best marketplace startups get paralyzed

Marketplaces are hard to build. You have to generate both supply and demand, and if that isn’t bad enough, you then have to work to match both sides of the marketplace to get a transaction to clear (and therefore generate revenue).

Axios’ Dan Primack on ‘the most polarizing startup that exists’

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week was a bit special. Instead of meeting up at the TechCrunch HQ to record the episode, Kate and Alex met up in muggy Boston at Drift’s office, where we linked up with Axios’s Dan Primack. And since we were feeling chatty, we went a bit long.

After checking in with Primack (he has a newsletter and a podcast), we first dealt with the latest from Tumblr. In short, Verizon Media is selling Tumblr to Automattic for a few dollars. How did Verizon wind up owning Tumblr? Ah. Well, Yahoo bought it. Later, after Verizon bought AOL, it bought Yahoo. Then it smushed them together and called it Oath. Then Verizon decided that it didn’t like that much and renamed the group Verizon Media. But Verizon doesn’t want to own media (besides TechCrunch, of course), so it sold Tumblr to Automattic, a venture-backed company best known for operating WordPress.

That’s a lot, I know. What matters is that Yahoo bought Tumblr for more than $1 billion. Verizon sold it for around $3 million. Now, Automattic now has a few hundred new employees and a shot at juicing its userbase before it goes public.

After that, we lamented that the WeWork S-1 had yet to appear. This was a tragedy, frankly. We had expected to spend half the show riffing on WeWork’s financials, alas…

So we turned to some normal material, like Ramp’s recent $7 million raise to take on Brex, and, SmartNews’s recent round, which gave it an eye-popping $1.1 billion valuation.

We ran a bit long because we were having fun, fitting in some conversation surrounding the notes from the SEC regarding the now-dead and then-fraudulent Rothenberg Ventures. More on that here if you want to get angry.

And finally, Vision Fund 2. It’s been a big source of interest for everyone on the show, and we expect whatever the second-act Vision Fund winds up becoming to be a big damn deal. The fund will invest in more than just consumer marketplaces, in fact, it’s eyeing more AI businesses and even biotech. That should be interesting.

All that and we have a lot more good stuff coming. Thanks for listening to the show, and we’ll be right back.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercast, Pocket Casts, Downcast and all the casts.

Daily Crunch: Verizon is selling Tumblr

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Verizon is selling Tumblr to WordPress.com parent, Automattic

It’s been six years since Yahoo acquired the popular blogging platform for more than $1 billion. Since then, Yahoo was acquired in turn by Verizon, and now Verizon is selling Tumblr for what’s been variously reported as a “nominal” price and “well below $20 million.”

While it may be simplistic to peg the service’s declining value to any single decision, last year’s move to ban pornography has certainly proved disastrous. At least on the surface, Automattic and WordPress seem like they might be a better fit.

2. Snap introduces Spectacles 3, with two HD cameras and 3D effects on Snapchat

Snap isn’t giving up on its Spectacles hardware yet.

3. Postmates to drop IPO filing next month

Despite previous reports indicating the on-demand delivery company is seeking an M&A exit, sources close to the matter say Postmates is on track to complete an initial public offering this year.

disrupt sf

4. Announcing the Disrupt SF 2019 agenda

We’ve got a little something for everyone: Space chats with Lockheed Martin’s Marillyn Hewson and Blue Origin’s Bob Smith, a word from Snap CEO Evan Spiegel, a fireside chat with two of 2019’s big VC winners, Ann Miura-Ko and Theresia Gouw, as well as a rare chance to sit down with GV’s David Krane.

5. MasterClass founder launches Outlier, offering online courses for college credit

The classes cost $400 each and feature content specifically shot for online consumption (rather than your standard classroom lectures), with dynamically generated problem sets. And they come with credit from the University of Pittsburgh.

6. Singularity 6 raises $16.5M from Andreessen Horowitz to create a ‘virtual society’

The startup’s ex-Riot Games co-founders claim they’re less focused on building a button-mashing competitive shooter and more on creating a “virtual society,” where users can develop relationships with in-game characters powered by “complex AI.”

7. How lawyers help bring your acquisition deal to fruition

Attorneys can act as project managers, working with company executives and boards of directors, guiding them through the lengthy transaction process — and of course, advising them on the legal side of the equation. (Extra Crunch membership required.)

Verizon is selling Tumblr to WordPress parent, Automattic

Six years after Yahoo purchased Tumblr for north of $1 billion, its parent corporation is selling the once dominant blogging platform. WordPress owner Automattic Inc. has agreed to take the service off of Verizon’s hands. Terms of the deal are undisclosed, but the number is “nominal,” compared to its original asking price, per an article in The Wall Street Journal.

Once the hottest game in town, the intervening half-decade has been tough on Tumblr, as sites like Facebook, Instagram, Reddit and the like have since left the platform in the dust. More recently, a decision to barn porn from the platform has had a marked negative impact on the service’s traffic.

The news certainly isn’t surprising. In May, it was reported that Verizon was looking for a new owner for the site it inherited through its acquisition of Yahoo. Tumblr was Yahoo’s largest acquisition at the time, as then-CEO Marissa Mayer “promise[d] not to screw it up” in a statement made at the time.

Tumblr proved not to be a great fit for Yahoo — and even less so Verizon, which rolled the platform into its short-lived Oath business and later the Verizon Media Group (also TechCrunch’s umbrella company). On the face of it, at least, Automattic seems a much better match. The company runs WordPress, one of the internet’s most popular publishing tools. As part of the deal, the company will take on 200 Tumblr staffers.

Developing…

Competition among alternative protein players gets hot as companies beef up with new deals

The competition for control of the burgeoning market for burger replacements (and other alternatives to animal proteins) continues to heat up.

Beyond Meat and Impossible Foods the two leading contenders for top purveyor of plant-based patties (and other formulations) have spent most of the typically sleepy summer months jockeying for the position as top supplier to a food industry suddenly ravenous for alternatives to traditional meat product.s

As soon as the first Impossible Whoppers came off the flame broilers at Burger King, Beyond Meat was announcing a new fast food chain supply deal of its own with Subway.

Through that agreement the publicly traded provider of plant-based products will be grinding up meatless meatballs for Subway’s new vegetarian option to the classic meatball sub.

Subway will roll out meatless meatballs in 685 of its franchise locations in the U.S. and Canada starting in September.

Not to be outdone, Impossible Foods came swinging back with some a new partnership with the institutional food prep giant Sodexo. At roughly 1,500 Sodexo locations food slingers at healthcare facilities and corporate and university cafeterias will unveil new options like Impossible Foods-based sausage muffin sandwiches, sausage gravy and biscuits, steakhouse burgers and creole burgers.

Screen Shot 2019 08 11 at 4.36.46 PM

Image courtesy of Sodexo

“Sodexo is committed to providing customers with more plant-forward and sustainable options as part of their diet,” said Rob Morasco, senior director culinary development, Sodexo, in a statement. “We are excited to expand our menu to include the Impossible Burger’s flavorful blend, which will be featured in several new products this fall.”

Set against this meatless horserace for national food service dominance, other plant-based providers have launched to take the startup direct-to-consumer approach to satisfy vegetarian cravings for other types of food substitutes.

It was partially in response to this furor over the vegetarian market that the world was introduced to Nuggs. Ben Pasternak, the company’s young founder, first came to fame as the teenage entrepreneur behind the social media app Monkey.

When Monkey was sold to a Chinese company in 2017, Pasternak turned his attention to food. He’s been cooking up the idea for Nuggs since that time. In 2018 the core team assembled with Pasternak bringing on Liam Mullen, a former pastry chef and self-trained molecular gastronomist who was working for the high-end New York restaurant Daniel at the age of 16.

Screen Shot 2019 08 11 at 4.38.18 PM

Image courtesy of Nuggs

Unlike Impossible Foods, which has faced supply chain woes thanks to its initial strategy of building its own manufacturing facilities, Nuggs is manufactured by McCain Foods, a food prep giant that also led the company’s $7 million round. Other investors include Rainfall Ventures; Greylock Discovery Fund; Maven Ventures; NOMO Ventures; M Ventures; ACME Capital; Founder of MTV and CEO of iHeartMedia, Bob Pittman; Casper Founder & COO, Neil Parikh; and Former President of Tumblr, John Maloney.

While Beyond Meat and Impossible Foods have grabbed most of the headlines as the first generation of protein substitutes to really make a dent with consumers, Just (the company formerly known as Hampton Creek) has also nabbed some major deals with big fast food chains for its big product — egg replacements.

Launched in 2018, the egg replacement from Just inked a major deal in late July with Tim Hortons, the Canadian coffee, donut, and sandwich chain. Much as Beyond Meat has found a home for its meatless sausages at Dunkin Donuts in the U.S., Just has seen Tim Hortons take its eggless egg replacement to a Canadian consumers (Hortons also has a sandwich using Beyond Meat).

Some companies are going beyond plant-based protein replacements to lab-grown versions of the real thing. That’s been the story behind Perfect Day, which sold out of their $20-per-pint ice cream in a matter of hours. Like Impossible Foods and Beyond Meat, the company intends to sell through ice cream manufacturers rather than going direct to consumers with its own product, according to a CNBC report.

The three protein replacement companies have grabbed investor attention and heralded a surge of venture capital investment into plant based protein products. In all, Beyond Meat, Impossible Foods, and Just have snagged over $1 billion in funding.

For investors in Beyond Meat, the $122 million in capital will yield billions in returns. The company’s market capitalization is up to a meaty $13.4 billion from $1.5 billion when its stock first began public trading. Analysts at Barclays predict the market for alternative proteins could hit $140 billion by 2029.

On the Internet of Women with Moira Weigel

“Feminism,” the writer and editor Marie Shear famously said in an often-misattributed quote, “is the radical notion that women are people.” The genius of this line, of course, is that it appears to be entirely non-controversial, which reminds us all the more effectively of the past century of fierce debates surrounding women’s equality.

And what about in tech ethics? It would seem equally non-controversial that ethical tech is supposed to be good for “people,” but is the broader tech world and its culture good for the majority of humans who happen to be women? And to the extent it isn’t, what does that say about any of us, and about all of our technology?

I’ve known, since I began planning this TechCrunch series exploring the ethics of tech, that it would need to thoroughly cover issues of gender. Because as we enter an age of AI, with machines learning to be ever more like us, what could be more critical than addressing the issues of sex and sexism often at the heart of the hardest conflicts in human history thus far?

Meanwhile, several months before I began envisioning this series I stumbled across the fourth issue of a new magazine called Logic, a journal on technology, ethics, and culture. Logic publishes primarily on paper — yes, the actual, physical stuff, and a satisfyingly meaty stock of it, at that.

In it, I found a brief essay, “The Internet of Women,” that is a must-read, an instant classic in tech ethics. The piece is by Moira Weigel, one of Logic’s founders and currently a member of Harvard University’s “Society of Fellows” — one of the world’s most elite societies of young academics.

A fast-talking 30-something Brooklynite with a Ph.D. from Yale, Weigel’s work combines her interest in sex, gender, and feminism, with a critical and witty analysis of our technology culture.

In this first of a two-part interview, I speak with Moira in depth about some of the issues she covers in her essay and beyond: #MeToo; the internet as a “feminizing” influence on culture; digital media ethics around sexism; and women in political and tech leadership.

Greg E.: How would you summarize the piece in a sentence or so?

Moira W.: It’s an idiosyncratic piece with a couple of different layers. But if I had to summarize it in just a sentence or two I’d say that it’s taking a closer look at the role that platforms like Facebook and Twitter have played in the so-called “#MeToo moment.”

In late 2017 and early 2018, I became interested in the tensions that the moment was exposing between digital media and so-called “legacy media” — print newspapers and magazines like The New York Times and Harper’s and The Atlantic. Digital media were making it possible to see structural sexism in new ways, and for voices and stories to be heard that would have gotten buried, previously.

A lot of the conversation unfolding in legacy media seemed to concern who was allowed to say what where. For me, this subtext was important: The #MeToo moment was not just about the sexualized abuse of power but also about who had authority to talk about what in public — or the semi-public spaces of the Internet.

At the same time, it seemed to me that the ongoing collapse of print media as an industry, and really what people sometimes call the “feminization” of work in general, was an important part of the context.

When people talk about jobs getting “feminized” they can mean many things — jobs becoming lower paid, lower status, flexible or precarious, demanding more emotional management and the cultivation of an “image,” blurring the boundary between “work” and “life.”

The increasing instability or insecurity of media workplaces only make women more vulnerable to the kinds of sexualized abuses of power the #MeToo hashtag was being used to talk about.

Why you don’t want Tumblr sold to exploitative Pornhub

Tumblr has been squandered ever since it was bought for $1.1 billion in 2013 by Yahoo, now part of Verizon Media Group. Without proper strategy or talent, the blogging tool and early meme-sharing network fell into decline while Medium and Instagram soared. Yahoo wrote down Tumblr’s value by $230 million in 2016. Then last year, Verizon evicted Tumblr’s huge and loyal base of porn bloggers, leaving no viable platform for independent adult content creators and curators.

Now the Wall Street Journal reports that TechCrunch parent company Verizon is considering selling Tumblr.

Many immediately hoped it’d change hands to an owner who’d embrace pornography, such as social media darling Pornhub. BuzzFeed quickly reported that Pornhub VP Corey Price told it “We’re extremely interested in acquiring the platform and are very much looking forward to one day restoring it to its former glory with NSFW content.”

But given Pornhub parent company MindGeek’s record of exploitation of adult performers, that could be a disastrous proceeding for the world of kink.

Outside of Pornhub, MindGeek owns many of the top porn streaming sites like YouPorn, RedTube, and GayTube. Widespread piracy of porn films by those sites has made it tough for performers to earn a living. Many smaller studios or performers don’t have the legal or financial resources to file constant copyright infringement takedown notices, and MindGeek’s sites have been accused of allow re-uploads of videos days after taking them down.

The truly insidious part is that MindGeek has also bought up a bunch of the top porn production studios including Brazzers, Babes.com, and Digital Playground. MindGeek has been accused of allowing those studios’ films to be pirated by its own streaming sites. That lets MindGeek earn and keep streaming ad revenue without giving performers a proper cut.

The result has been a massive decline in the wages of porn performers and the number of films being made. This is turn pushes performers into more rough and extreme porn genres they’re not comfortable with, or into other sex work like prostitution that can be dangerous. We reached out to Verizon Media Group which told us “we don’t comment on rumors, and we’re awaiting comment on piracy issues from MindGeek.

If Pornhub and MindGeek succeed in acquiring Tumblr to strengthen their near monopoly, they could end up exploiting porn bloggers and the performers they post about too. You could imagine the photos and GIFs in diverse porn genres that populated Tumblr getting scraped and shared across MindGeek’s network of sites beyond the bloggers’ or performers’ control. Or Tumblr’s porn blogs could be used to funnel traffic towards MindGeek’s crooked streaming sites, exacerbating the piracy problem. A more optimistic view is would be that Pornhub’s newer features that let performers set up their own paywalls could help Tumblr curators earn money for themselves…and MindGeek. If Pornhub managed to turn Tumblr around, it would deal a stern lesson to platforms that were quick to ban adult content.

Since many of the puritanical US government’s elected officials likely see porn performers as godless heathens undeserving of protection, they’re unlikely to try to safeguard the profession with anti-trust or fair payout regulation. The SESTA-FOSTA law that went into effect last year intending to stop sex trafficking ended up pushing sites like Tumblr, Facebook, and Patreon towards tougher crack downs on porn, nudity, or even innocent discussions about sex within support communities for LGTBQ people and other underprivileged minorities.

Unfortunately, MindGeek’s massive footprint means it might be willing to bid the highest price for Tumblr. If Verizon does sell Tumblr, it should seek a buyer with an upstanding record for how it treats creators. But Verizon could also modernize Tumblr to emphasize what’s differentiated about it in today’s tech landscape versus when it was founded in 2007. Obviously, it could reopen to porn. But there are also family friendly opportunities.

Tumblr was one of the first big meme-sharing communities, even spawning its own format of screenshots of progressively crazier replies to a short text post. Yet in 2019, the top meme networks like Instagram, Reddit, and Imgur aren’t actually built for distributing massive ‘dumps’ of memes. They don’t understand which you’ve already seen to prevent showing re-runs, or how remixes of an original meme all relate and should be linked. Tumblr could build meme-specific features that give users more curational power than Reddit and Imgur, but more freedom of expression under less pressure than Instagram.

Tumblr could also be repurposed into a “your Internet homepage” platform. Most social networks are so desperate to keep users on their apps that they restrict or deemphasize the ability to promote your other web presences. They also often focus on a narrow set of content types like photos and videos on Instagram. This leaves users who don’t have their own dedicated websites without a central hub where they can freely express their identity and link to profiles elsewhere. This is a huge opportunity for Tumblr, which has already established itself an open-ended self-expression platform open to a variety of content formats.

AOL, which was combined with Yahoo to form the Verizon Media Group, previously owned a web profile platform called About.me, but sold it back to its creator Tony Conrad in 2013. Tumblr could assume much of About.me’s functionality as a directory of someone’s presences on other apps, and add that to its blogging platform. Instead of being locked into Instagram and Pinterest’s grids and standardized designs, Tumblr could let people create a homepage collage representing their prismatic identities.

Tumblr’s already been waning in popularity for years, so Verizon might not have a lot to lose by giving Tumblr a year to execute on this strategy before selling it for surely much less than it bought it for in 2013. Tumblr’s remaining users deserve better than the platform fading into nothing or being sold to the unscrupulous.

If any pornography industry professionals want to weigh in, please contact this article’s author Josh Constine via phone/text or Signal encrypted messenger at (585)750-5674 or joshc ‘at’ techcrunch dot com.