I Want To Spend More Time With My Money

at

Mark-Little-presenting-Storyful-in-Seoul

Storyful founder Mark Little

Kidding!

Family.

And stuff.

“…So why would anyone of right mind step away from this kind of turbo-charged business? It’s hard to explain to those who haven’t lived the startup life. There comes a time when your continuing benefit to your company is outweighed by the personal cost of not moving on to the next challenge.

Perhaps the parents out there will understand a secondary reality. I’ve reached that sad but glad understanding that my precious little baby is all growed up and doesn’t need me anymore.

I’m leaving Storyful with no absolute certainty about what I’m doing next. But that’s a pretty wonderful feeling. Back in 2010, there was only one opportunity that excited me. Today, in a golden age of storytelling, the options are endless. I’m more passionate than ever about social journalism, media innovation and the challenges and opportunities that emerge from a revolutionary age.

I’m exhilarated by what might come next. But as I look back, I am also profoundly grateful today to all the idealists who made Storyful a reality.”

Mark Little, announcing his resignation from Storyful, the news gathering agency he founded and sold to News Corp for an amount described as ‘large’.

Mark Little on leaving Storyful, stronger than ever (Storyful)

57 thoughts on “I Want To Spend More Time With My Money

  1. Delacaravanio

    I Ann reluctant to use the term Faustian pact in relation to Murdoch as to do so would be defamatory to Satan.

    1. Joe

      wonder what the price was for his morals to be ignored, his wallet is very healthy but his reputation is sick.

    2. Joe

      “Storyful has effectively been dismantled by News Corp.”

      Are you basing this on some sort of information or facts that you can cite? Because Storyful is doing the same thing now that it was doing before it was sold — sourcing and verifying newsworthy content on social media. They still have journalists and programmers working under the same roof, and they still work for clients other than Newscorp.

    3. Rowsdower

      This is what happens with Startups.

      The creator thinks his invention is going to revolutionary and change the world, a big corporation sees some small part of it that could be useful with something else they have, so give big money on the buy out.

      The start up guy then finds out he’s being left out of more and more meetings and eventually he’s removed from an position of purpose and he quietly leaves with a lot less money than he thought he had.

  2. realPolithicks

    He sold his “precious little baby” to Rupert Murdoch, I think that tells you all you need to know about this chap.

      1. Lilly

        Course he has. Now if he could just go away and stop bleating on trying to convince us that Storyful was revolutionary, he’d be doing everyone a favour.

    1. Rowsdower

      I always hear people saying this, “Oh, its his baby, how could he sell it?” He sold it for £15 million apparently. For that much money, id sell my actual baby.

  3. Dubh Linn

    Ummm…. whatever about my distaste for the buyer, you do know that the purpose of most start-ups is to be sold, right?

    1. PaddyIrishMan

      This. I wonder how many here would turn down 18 million if they were in a similar situation.

      1. rotide

        About the same amount of people who WOULDN’T move their business accounts to the netherlands for tax reasons or become a tax exile.

        In other words about zero people here.

          1. rotide

            I hate to be the one to break this to you Del, but if you aren’t willing to take those measures, then you will never need to take those measures.

    2. realPolithicks

      It’s his business and he can do what he wants with, but he should cut the bullsh*t and admit he took the money and doesn’t give a rat’s ass what happens to his “baby” now.

  4. rotide

    this is struggling to make a dent on the care-o-meter.

    Much more interesting, what happened to the approved blogger post?

  5. WashintonP

    The Washington Post touched on this in 2013 in the article Can Ireland’s Celtic Tiger roar again?

    “What strikes an American visitor, however, is how few of those successful Irish start-ups have grown into large Irish corporations. The normal pattern is that once the firms reach sales of $10 million, the founders sell out to a bigger firm, usually foreign, that is willing to pay a premium for the product or the customer base. The riskier course — taking the company public, making a big push into foreign markets, creating a billion-dollar company that spins off other firms and creates a cadre of Irish millionaires who invest in other Irish startups — rarely happens.”

    “Irish mothers traditionally wanted their sons to go into the church, medicine, law or government — anything that was “permanent and pensionable.” Starting a business, or working in a small firm, was way down on the list.”

    “O’Shaunessy says it’s only natural for those of his generation, which grew up in in a small and relatively poor country, to seize the opportunity of financial security for themselves and their families by selling out to multinational corporations that come knocking.”

    http://www.washingtonpost.com/business/can-irelands-celtic-tiger-roar-again/2013/08/16/1462304c-0460-11e3-a07f-49ddc7417125_story.html

    1. phil

      Id like to believe otherwise but that sounds exactly my dream , just exchange the word startup with lotto , all I want is security , I didnt think it was a strong Irish trait.

      IMO there is a suspicion from the so called elites that if the populace achieve this security , we will sit on our asses and do nothing , I disagree.

  6. Caroline

    He’s more passionate than ever about social journalism. Wow. He must be about to either scream or punch a wall.

  7. DubLoony

    Ah feck it, fair play to him. He had an idea, went with it, made it successful.and it was bought out. He gets to decide what he does next and has the cash to back it up. Nice one.

    1. Lilly

      Whatever, he’s a bore. We don”t need to hear his inane ramblings as he stands on the precipice of the future blabla. Sure there’s always Montrose.

  8. Manta Rae

    Know of someone who applied to Storyful for a job after Murdoch took them over. As well as the usual CV and covering letter gumph, they were also asked to send links to previous social media-type stories that they worked on.

    A month or so later, a story very similar to one my friend had told Storyful about appeared on Murdoch’s Sky News.

    Fuppin’ Shkysters…

  9. Anne

    Clicked on storyful there for the first time.. it’s doubtful I’ll go back. It wasn’t exhilarating and it didn’t seem turbo charged..
    ‘Exhilarating journey… turbo charged’. He’s on about a rocket launch, is he?

    Fupping gibberish.. Where do these gobsh*tes learn how to talk like that?

  10. :-Joe

    Ahh I love a good bit of oratory from Mark Little he never fails to wow me and entertain as he campaigns in poetry, governs in prose and then sells out to the highest bidder faster than a scalded dog .

    He is a brilliant bullshit artist, the kind only someone like Armando Iannucci could create, I hope he gets a new sit-com to give him and us a break from his quarterly speech writing endeavours.

    Perhaps it was already failing and he performed a major coup with a golden exit strategy. Either way, all credit for his success and hats off to him for doing his thing but now he’s lost any real credibility as any worthwhile advocate of good journalism.

    it’s a sad reality that potentially powerful tools in the media will get bought off far too easily by the usual suspects but if it really was any use at all before news derp got their slimey turd-fingers near it, it would have been well funded and kept independent.

    Just another outlet to instantly mistrust now and wait for the laugh when fox derp start quoting from it to back up their inane and insane ramblings.
    (Adding in the top 10 of the very long list)

    :-J

  11. Donal

    Wow the broadsheet moaning michaels are out in force this morning.

    Let’s review:
    – One of the country’s top journalists had an idea and left a cushy job to make it happen
    – Almost nobody in the Irish media had the brains to understand it (myself included for what that’s worth)
    – Turns out the idea was brilliant – and unique, not a copy of something else
    – Not only that, the execution was really good. Turned it into a profitable business employing journalists in dublin with clients all over the world
    – One of the world’s biggest media companies offers him a life-changing amount of money and he takes it
    – The business is now part of a huge media organisation with massive resources, it should have an amazing future
    – Broadsheet readers whinge that he’s a bullshit artist who sold out and he has no credibility!!!

    It was his company he can sell it to whoever he likes!! And credibility? He created a brand new kind of news agency from nothing and grew it into a real business – thats not bullshit – that’s the real world- what more credibility does he need??!!

    Pardon the rant but this is the typical Irish thing of turning on the successful one – how dare he be such an upstart?

    1. Rowsdower

      People aren’t annoyed with his success, they’re annoyed with his dishonesty.

      He wanted to make media better and in a small part did that but then at the first opportunity, he sold out to possibly the worst thing that has ever happened to media ever.

      Now after he’s been bought out and he’s found out that the new owners don’t care about him, he’s rambling on like he’s Marco Polo about to go venture into the great unknown to find knowledge and enlightenment to bring to the rest of us ignorant savages. Truth is, he’ll be swinging around the lecture circuit, making more cash telling everyone if they want to follow their dreams, they should just sell out like him.

    2. rotide

      Donal’s point could not be more spot on.

      Rowsdower immdiately illustrates the last line.

    3. :-Joe

      Always whining and moaning… what’s next?
      If only we could be more like the Americans.. etc, etc, YAAAWWWWNN!!!

      ” – The business is now part of a huge media organisation with massive resources, it should have an amazing future ”
      Haha, are you serious?… Do you even know anything about newsDERP ?

      Unless, by using the word “amazing” you mean amazing for a corporate media empire’s own future, in manipulating information for the betterment of it’s own interests at the expense of and with intentional disregard for the public interest.

      How can you pretend to be a respectable journalist and claim you give a fup about making journalism more ethical and trustworthy, create a business that you claim(ad nauseam) represents your personal beliefs and then sell it to the biggest shite-hawk media empire in history.

      A colossal behemoth of power that continues to behave as the manifestation of everything that we have ever known to be corrupt, unethical and irresponsible about media and journalism.

      It’s a blazing contradiction and makes Little look like a bull-shit artist, a hypocrite and a sell out.

      It’ not jealousy, it’s not begrudging, it’s just bitter disappointment that both his good idea for a modern online source of reliable news is now gone the same way as his reputation as a journalist. How much is ethics, responsibility and doing the right thing really worth? Whatever he got, it’s not much apparently.

      IMO the only way you can not see this as bad is if you believe in some form of chaos theory and this will balance itself out for the better in the long run. If that’s true and you can see how that’s possible then please explain it to me because you’re obviously far more insightful than I am.

      Peace and love.

      :-J

  12. danc

    +1. Reminds me of a quote attributed to Bono

    “Ireland has a very different attitude to success than a lot of places, certainly than over here in the United States. In the United States, you look at the guy that lives in the mansion on the hill, and you think, you know, one day, if I work really hard, I could live in that mansion. In Ireland, people look up at the guy in the mansion on the hill and go, one day, I’m going to get that bastard.”

    1. Rowsdower

      When you’re making a point and you’re using Bono as your example in favour of it, its time to reassess your thought process.

        1. Rowsdower

          Just because someone said it, doesn’t make it true. Especially because Bono said it, it definitely isn’t true.

  13. Mr. T.

    Can’t stand the phrase ‘Start-up’. It’s simply setting up a new business which has been going on for thousands of years. Calling something a ‘Start-up’ doesn’t make if different.

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