A Very Public Offering: The Story of theglobe.com and the First Internet Revolution

There are people who might be interested in this book; specifically, those who saw the National Geographic Channel TV series, “Valley of the Boom.” One of the three early Internet companies featured on that dramatic interpretation of real-life events was TheGlobe.com. As for anyone else, it’s doubtful.

There have been too many accounts of Internet companies that went from boom to bust. This is just another such story. Stephan Paternot is the guy who ran a billion dollar company at the age of twenty-four, when he was worth ninety-seven million dollars. Within just a few years, he lost all of that money.

I wish I could say there’s something in the account that’s missing from the others, but I can’t. And there are issues with Paternot’s telling of events. Firstly, he asks the reader to feel sorry for him. But there’s no reason to. Secondly, his credibility takes a hit, as he praises the reporters who loved him while bashing those who didn’t. Thirdly, Paternot asks readers to believe that he was about to willingly step aside as CEO before he was fired. This does not mesh with the narrative in which Paternot remains the biggest fan of Stephan Paternot.