The Trouble with Henry

I really, really, really hate to say this, but I agree with Henry Blodget. There, I said it. You remember him — the defrocked ex-analyst who is playing at not playing an analyst over on his blog.

In a recent post Blodget re-explains why he thinks Google shouldn’t have used the company blog as the primary vehicle for putting out the recent news of its click fraud settlement. Others disagree with him, saying Henry’s just being a dinosaur in not recognizing the communications puissance of blogs.

Maybe, but that’s not the point. The real point is that this was market-moving news, and Google, as usual, messed with its lowly retail investors, this time by making them play hide-and-seek to get information. Putting that sort of thing out first on a blog, rather than in the Investor Relations section, or “company news” section of the Googel site was, charitably,  wrong-headed. If you’re going to put it on the blog, then put it out through all major news channels at once. Don’t cherry-pick, especially with financial news.

Bottom line: Google deserves to be spanked for not thinking through the consequences of its actions. It’s just too bad (and more than a little irritating) that it’s Henry Blodget doing it.

Related posts:

  1. Henry Blodget, Michael Lewis, and Vampires
  2. Slate Hires Henry Blodget
  3. Google Reader: Don’t Blame Us, It’s Only an API!
  4. Google Investing Roundtable in FT
  5. Back to Blodget Emails

Comments

  1. Fair enough, Paul. I think you’re probably right, and that Google should have done the regular press release/newswire thing as well as putting it on the blog. On the other hand, there was a wire story about it being on the blog within about an hour of it appearing, so was any real harm done?
    Anyway, a fair point. Blogs are not necessarily a replacement for other methods of information dissemination, they’re just an additional method.

  2. John K says:

    I sense too much begrudging of the admission that Blodget could be right “I really, really, really hate to say this…”
    Fact is, Blodget provides unique and solid Google analysis & perspective that you don’t find on any of the copycat blogs of the web2.0 or VC crowd.
    Let the past go, and give the man a break.

  3. Nah, my begrudging isn’t that Henry’s right — because he is. And it isn’t even that Henry’s a smart guy who does good Google analysis, because he can.
    But I can’t help finding his “I know I’m not allowed to be an analyst, but I play at not-playing one on the web” schtick more than a little cloying. I’m small-minded that way.

  4. hiko says:

    At least he didn’t buy his own crap during the bubble. At least that’s my impression from reading those emails. Sure it was morally reprehensible what he did. I just would have found it more disturbing if he actually believed the stuff he shoveled. Not sure if he’s smart but that at least suggests he’s not dumb.