You know, I used to despise AOL, but now I don’t. Now I see them as the corporate auto-Robin-Hood that they truly have been.
Thanks to their unique combination of cash reserves, hubris and goofiness, AOL have managed to absorb the difference between the grotesque over-valuation of several pieces of tech (WinAmp, Netscape, etc.), and the actual value of those same assets. They bought those things for the stupid, Facebook-level IPO messiah price, screwed up and starved the productive side of things in a vain search for profitability commensurate with their unrealistic investment, and refused to let go.
The end result: The tech ends up functional, freed of its greedhead investors, with only those who truly care about what it does left and providing the (usually simple) functionality that made it worthwhile in the first place.
And they’ve done it the old-fashioned way–by taking HUGE losses!
Yay market! Thanks AOL!