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http://www.mathewingram.com/work/2006/01/24/well-done-dan-failure-is-educational/ -
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(Hey, cool comment feature!)
Your work seems to always hit on the themes I'm thinking a lot about, Matthew! I agree, everyone interested in this area is looking at what works, what doesn't, what *should* work but doesn't, and vice versa! And yes, unless you have the enormous built in traffic of a Google or Yahoo, it's very hard to build a stable traffic base. So I think that's partly why we're seeing aggregators on top of aggregators. It's really a mess in a lot of ways! But it also makes perfect sense given the explosion of media, information, people coming online, and relative newness of it all.
He's clearly learned a lot; much of it will be applicable to his next venture(s).
For me I know I cut my teeth organizing an event. Lost a pile of money the first year, was profitable for the next six (having broken even again in year three). I learned so much in years one and two about how to live and succeed (read learned about entrepreneurial lifestyle) when building something. Dan's learned this now too...again, curious to see if he applies it.