Corsicana Daily Sun, Corsicana, Texas

Latest News

October 14, 2012

Slate: Hard times in FarmVille

(Continued)

PALO ALTO, Calif. —

Now Zynga has entered what looks like a death spiral, and nobody is surprised. This week the firm announced that users aren't flocking to its latest games, and as a result it's lowering its revenue expectations for the year. The announcement sparked another brutal slide in Zynga's stock price; shares were recently trading for less than $2.50 each, more than 75 percent less than at Zynga's IPO. Zynga has enough cash in the bank to stave off immediate panic, but now that the possibility of earning stock-market millions is looking dim, a number of the firm's top employees have left.

In some ways Zynga's demise — along with Facebook's IPO fizzle and investors' newfound distaste for advertiser-driven consumer sites — is a good sign for the tech industry. There was a moment earlier this year when Silicon Valley threatened to return to the unrealistic go-go years. The high-water mark was the early summer. Around that time a delivery man knocked at my door bearing a package from Zynga. It was about the size of a shoebox, but it weighed nothing. And that's pretty much what it contained — I opened the box to find a folded-up paper airplane sitting in a wad of packaging tissue. The airplane was an invitation to an upcoming Zynga press event. I found the whole thing distasteful. Like the million-dollar rooftop launch parties and the Super Bowl sock puppets that defined the last boom, the invitation was a waste of money and creative energy that should have been used for something more productive.

Zynga's seeming decline marks the end of the bubble. It suggests that investors and customers can't be hoodwinked for long. Now, if the company has any hope of surviving, it's going to have to do something that it's never done before: Start building amazing things the world hasn't seen before.

---

Manjoo is Slate's technology reporter. @fmanjoo

Text Only
Latest News
  • OCIW treasure Mantle worthy: Oil City presented with Texas Treasure Business Award

    Maybe Oil City Iron Works is worth double the treasure. After all, the local icon honored Monday with a state award for employers in business for 50 years has actually been around for 128.

    July 21, 2014 2 Photos

  • 7-22-14 meth raid.jpg Five arrested in meth raid

    The Corsicana Police Department executed a raid on an alleged meth house Saturday afternoon, and it was done in about 45 minutes, all but the paperwork.
    “That part is on-going, reports and follow-up,” said Police Chief Randy Bratton on Monday.

    July 21, 2014 1 Photo

  • Perry orders 1,000 Texas National Guard troops to border

    AUSTIN — Gov. Rick Perry says he's deploying as many as 1,000 National Guard troops to the Texas-Mexico border after growing tied of "lip service" from the federal government.

    July 21, 2014

  • 7-19-14 plane leaving.jpg F-4 jet leaving Navarro College for new Florida home

    It stood for years in front of the Cook Center at Navarro College. Now, like so many “retirees,” it’s Florida bound.
    It took several days to partially dismantle the F-4 Phantom fighter jet enough to travel, but it was done this week.

    July 20, 2014 2 Photos

  • Mildred to consider Tidwell as principal

    The Mildred Independent School District Board of Trustees will consider appointing current baseball coach Aaron Tidwell as the new Mildred High School principal when the group meets in regular session Monday.

    July 20, 2014

  • 7-19-14 Building1.jpg Business News: New buildings underway

    Two new construction projects along Seventh Avenue have stepped into high gear.

    July 20, 2014 2 Photos

  • Local Beat 7/21/14

    A listing of meetings and events of interest from throughout Navarro County.

    July 20, 2014

  • 7-19-14 PipeFront.jpg Pipeline project gearing up

    After years of planning, the Integrated Pipeline Project will get underway this month just south of Rice on either side of Interstate 45.

    July 19, 2014 2 Photos

  • County budget workshop set

    The Navarro County Commissioners Court has scheduled a budget workshop for 9 a.m. Wednesday.

    July 19, 2014

  • 7-19-14 OpryFront..jpg Opry making big strides

    The Corsicana Opry is well on its way, and owner Carolyn McCombs jokingly agrees that it might be completed in 20 or so years.
    “It’s always a work in progress,” she said this past week.

    July 18, 2014 2 Photos