TBD.com dies. News at eleven. Or maybe never.

In my Technology Rankings -- which are infallible! -- I gave TBD.com a very good '27' score. That meant it should survive, at minimum, and indeed, I expected it to do quite well on the heels of its launch:

I wanted to explore TBD.com before its official launch because it is well-funded, has 'old media' staffers and has amassed over 100 bloggers (nee journalists) already. Can this work? I will use my TECHNOLOGY RANKINGS algorithm to score it. I believe that hyperlocal news sites can work -- provided they seek to maximize their embrace of the meta trends I use to rank technologies and business models.

Wrong! TBD has done crashed and done burned and the future of new hyperlocal news sites, for the near future at least, is now in doubt. From Newsosaur:

The rapid implosion of the high-profile TBD news site is further evidence that hyperlocal journalism is more hype than hope for the news business. Launched with considerable fanfare and generous funding only six months ago by Allbritton Communications, TBD was the latest effort in the nation’s capital to create websites filled with intensely local coverage that, it was hoped, would attract large and loyal followings. Instead, they cost a bundle and withered for lack of interest.

TBD faltered for the same four reasons its esteemed predecessors could not get off the ground. For the record, these are the same reasons that most ill-conceived media start-ups fail.

• Small audiences
• Big expenses
• Small revenues
• Big losses

The setback at TBD will not spell the end of the hyperlocal experiment. AOL this year is spending $50 million to fund the roll-out Patch.Com in dozens of communities across the land.

In my defense, I listed TBD.com as...TBD.com (hyperlocal news). So, the jury is still out. When I look back at my rankings, I see two big issues. Under "ADAPTABILITY", it scored a 4 out of 5. This is probably correct -- in theory. Hyperlocal news ought to be able to be replicated just about anywhere. However, adapting to new (local) markets and tastes and demographics is not easy, nor cheap. That should have factored in my scoring.

Similarly, under FREE, it scores a full 5 out of 5. I clearly need to revise how I define "FREE". Yes, the service was free -- to users. But, it costs a great deal to create! A free hyperlocal service that relies almost entirely on non-paid local bloggers, say, might deserve a 5 out of 5. A big corporate entity paying 'journalists' to create content does not.

I think the model still works. And I think it still works for hyperlocal news, in fact. But, I did get this one wrong and will have to make some modifications to my methodology.