We all know that some company bought Digg for a few dollars and a ham sandwich. The new site launched already.
Social bookmarking website Digg launched the first version of its new site on Tuesday after going back into startup mode to rebuild the site from the bottom up. V1, for version 1, was built on “fresh code” and the team says they plan to build it out quickly.
I think though that fresh code and building from the bottom up isn't going to work. The more I watch people try to resurrect old and crusty Web properties, the more convinced I am that it's not just a matter of improving functionality or pivoting to offer a slightly different service, which is what tech startup people are good at doing.
When a brand name becomes a shorthand verb for its function, and its function becomes obsolete, the name becomes a shorthand reference for antiquated technology and a way to sentimentalize the pop-culture of its time. It's why Microsoft is relaunching Hotmail as something totally new.
Silicon Valley still believes in the unique selling proposition. The problem is that eventually other companies replicate and improve on just about any technology, which then leaves the company that owns the original holding a brand problem.
Either that or Yahoo/Google buys it and then neglects it to death.