Digg - Six Apart Welcomes Pownce

Digg - Six Apart Welcomes Pownce

Every one is putting a brave face on this i.e. Six Apart has acquired the technology and technology team of Pownce (including Kevin rose as an advisor), but what it means is that Pownce is closing down. Revision3 (another Kevin Rose venture), though still going lost a lot of staff earlier this year.

The credit crunch is hitting start-ups hard and though there's a lot of enthusiasm and hype showing that the start-up scene is still going strong, reality is slowly surfacing showing that the market is worse than people would like to think.

There still are great opportunities for start-ups and tech companies, but they need to have a business model that holds water and isn't technology for technology's sake or they'll start showing leaks and start sinking.

Companies are still beholden to their shareholders and when it comes down to it, that's what counts.