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Where Are They Now? Dot-Com CEOs

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Much has been written about the iconic American brands that have recently left the corporate landscape. Names like the bankrupt Circuit City and the nowhere-to-be-found Pontiac are casualties of the Great Recession, and there are most likely more to come. But every downturn means the end of the road for certain companies. Just a few years ago, brands like Kozmo, Flooz and Pets.com were going to change the way we all shop. So what happened to the CEOs of those dot-com casualties? We caught up with a few of them.

1. Jared Polis: BlueMountainArts.com

Artist Stephen Schutz and poet Susan Polis Schutz had been running greeting card company Blue Mountain Arts for several decades before their son took the business online and co-founded bluemountainarts.com. But Jared really caught the attention of the e-business world when he sold the company to Excite@Home in a deal worth $780 million. (Later, Excite sold the company for $200 million.) In 1998, he launched ProFlowers.com, a web company selling flowers direct from growers to consumers, which expanded to become Provide Commerce, which was then acquired by Liberty Media Corporation. In 2006, he founded Techstars, a seed incubator for web startups, and in November 2008, Mr. Polis was elected to the United States Congress to represent the second Congressional district of Colorado. Today, Fortune estimates his personal wealth at $160 million.

2. Joseph Park and Yong Kang: Kozmo.com

Remember when you could get a pint of Cherry Garcia, a Snickers and the New York Times delivered at 2:00am? Those were the days. And that's also the reason Kozmo is no more. The company's unsustainable business model promised free delivery of anything, in under an hour. And they lost money on every delivery. The two founders, Joseph Park and Yong Kang, took different paths after they closed shop. Park went to Harvard Business School and is now running Askville, a community site operated by Amazon.com. As for Yong Kang, he returned to Wall Street, and as of May 2008 listed his occupation as investment banking at Lehman Brothers. Rough decade.

3. Greg McLemore: Pets.com

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Before the dot-com bubble burst, there were about a half-dozen pet supply sites on the web, all getting ridiculous amounts of venture capital money (that should've been our first clue). After Pets.com went bankrupt in 2000, CEO Greg McLemore went on to create other start-ups. According to his LinkedIn page, he started stock footage company eFootage in 2003 and DataRefinery (a company developing a set of web based software tools) in 2006. He also hopes to sleep sometime around 2012, but that's subject to change.

4. Ernst Malmsten and Kajsa Leander: Boo.com

Boo.com was the brainchild of Ernst Malmsten, a poetry critic, and Kajsa Leander, a former Vogue model, who grew up together in Sweden. In the 90s, they wanted to create a website where the most fashionable people would buy their clothes, and before they had sold a single item, Fortune magazine had christened them "one of Europe's coolest companies." After the highly publicized launch, it took all of 18 months for the company to burn through $135 million in venture capital before closing down in May of 2000. Now, Kajsa Leander lives in Venice with her husband, raising their three children, and Ernst Malmsten runs a London-based agency that represents architects, fashion designers, graphic designers and other creative types. He also wrote a book about the experience called Boo Hoo: a Dot.com Story. As for Boo.com, it's now a travel website with user-generated reviews...no sign of Miss Boo anywhere, though.

5. Robert Levitan: Flooz.com

flooz.jpgFlooz was the Whoppi Goldberg-promoted site that offered redeemable credits when consumers purchased specific products. A lack of interest and a little fraud (apparently, parties within the Russian mafia were using Flooz as a money laundering vehicle) forced the company to shut down in 2001. As for the CEO, Robert Levitan (who had previously founded iVillage) went on to create Yearlook Enterprises and Pando Networks, a company that provides peer-assisted content delivery. These dot-com guys are quite the overachievers, aren't they?

6. Josh Harris: Pseudo.com

Josh Harris was one of the most interesting characters of the web 1.0 days. The founder of both Jupiter Communications and Pseudo.com (a live audio and video webcasting website), Harris became notorious for his six-month, $600,000 project "We Live In Public," a Big Brother type concept in which he placed more than 100 artists in a New York City human terrarium, capturing every move the artists made. After Pseudo.com filed for bankruptcy in 2000, Harris literally bought the farm: a 153-acre apple orchard in New York, which he sold in 2006. These days, Mr. Harris is the CEO of the African Entertainment Network based in Sidamo, Ethiopia. I'm sure he's capturing the entire experience on video.

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Pop Culture
How Jimmy Buffett Turned 'Margaritaville' Into a Way of Life
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Few songs have proven as lucrative as “Margaritaville,” a modest 1977 hit by singer and songwriter Jimmy Buffett that became an anthem for an entire life philosophy. The track was the springboard for Buffett’s business empire—restaurants, apparel, kitchen appliances, and more—marketing the taking-it-easy message of its tropical print lyrics.

After just a few years of expanding that notion into other ventures, the “Parrot Heads” of Buffett’s fandom began to account for $40 million in annual revenue—and that was before the vacation resorts began popping up.

Jimmy Buffett performs for a crowd
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“Margaritaville,” which turned 40 this year, was never intended to inspire this kind of devotion. It was written after Buffett, as an aspiring musician toiling in Nashville, found himself in Key West, Florida, following a cancelled booking in Miami and marveling at the sea of tourists clogging the beaches.

Like the other songs on his album, Changes in Latitudes, Changes in Attitudes, it didn’t receive a lot of radio play. Instead, Buffett began to develop his following by opening up for The Eagles. Even at 30, Buffett was something less than hip—a flip-flopped performer with a genial stage presence that seemed to invite an easygoing vibe among crowds. “Margaritaville,” an anthem to that kind of breezy attitude, peaked at number eight on the Billboard charts in 1977. While that’s impressive for any single, its legacy would quickly evolve beyond the music industry's method for gauging success.

What Buffett realized as he continued to perform and tour throughout the early 1980s is that “Margaritaville” had the ability to sedate audiences. Like a hypnotist, the singer could immediately conjure a specific time and place that listeners wanted to revisit. The lyrics painted a scene of serenity that became a kind of existential vacation for Buffett's fans:

Nibblin' on sponge cake,
Watchin' the sun bake;
All of those tourists covered with oil.
Strummin' my six string on my front porch swing.
Smell those shrimp —
They're beginnin' to boil.

By 1985, Buffett was ready to capitalize on that goodwill. In Key West, he opened a Margaritaville store, which sold hats, shirts, and other ephemera to residents and tourists looking to broadcast their allegiance to his sand-in-toes fantasy. (A portion of the proceeds went to Save the Manatees, a nonprofit organization devoted to animal conservation.) The store also sold the Coconut Telegraph, a kind of propaganda newsletter about all things Buffett and his chill perspective.

When Buffett realized patrons were coming in expecting a bar or food—the song was named after a mixed drink, after all—he opened a cafe adjacent to the store in late 1987. The configuration was ideal, and through the 1990s, Buffett and business partner John Cohlan began erecting Margaritaville locations in Florida, New Orleans, and eventually Las Vegas and New York. All told, more than 21 million people visit a Buffett-inspired hospitality destination every year.

A parrot at Margaritaville welcomes guests
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Margaritaville-branded tequila followed. So, too, did a line of retail foods like hummus, a book of short stories, massive resorts, a Sirius radio channel, and drink blenders. Buffett even wrote a 242-page script for a Margaritaville movie that he had hoped to film in the 1980s. It’s one of the very few Margaritaville projects that has yet to have come to fruition, but it might be hard for Buffett to complain much. In 2015, his entire empire took in $1.5 billion in sales.

As of late, Buffett has signed off on an Orlando resort due to open in 2018, offering “casual luxury” near the boundaries of Walt Disney World. (One in Hollywood, Florida, is already a hit, boasting a 93 percent occupancy rate.) Even for guests that aren’t particularly familiar with his music, “Jimmy Buffett” has become synonymous with comfort and relaxation just as surely as Walt Disney has with family entertainment. The association bodes well for a business that will eventually have to move beyond Buffett’s concert-going loyalists.

Not that he's looking to leave them behind. The 70-year-old Buffett is planning on a series of Margaritaville-themed retirement communities, with the first due to open in Daytona Beach in 2018. More than 10,000 Parrot Heads have already registered, eager to watch the sun set while idling in a frame of mind that Buffett has slowly but surely turned into a reality.

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Design
The Secret to the World's Most Comfortable Bed Might Be Yak Hair
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Savoir Beds laughs at your unspooling mail-order mattresses and their promises of ultimate comfort. The UK-based company has teamed with London's Savoy Hotel to offer what they’ve declared is one of the most luxurious nights of sleep you’ll ever experience. 

What do they have that everyone else lacks? About eight pounds of Mongolian yak hair.

The elegantly-named Savoir No. 1 Khangai Limited Edition is part of the hotel’s elite Royal Suite accommodations. For $1845 a night, guests can sink into the mattress with a topper stuffed full of yak hair from Khangai, Mongolia. Hand-combed and with heat-dispensing properties, it takes 40 yaks to make one topper. In a press release, collaborator and yarn specialist Tengri claims it “transcends all levels of comfort currently available.”

Visitors opting for such deluxe amenities also have access to a hair stylist, butler, chef, and a Rolls-Royce with a driver.

Savoir Beds has entered into a fair-share partnership with the farmers, who receive an equitable wage in exchange for the fibers, which are said to be softer than cashmere. If you’d prefer to luxuriate like that every night, the purchase price for the bed is $93,000. Purchased separately, the topper is $17,400. Act soon, as only 50 of the beds will be made available each year. 

[h/t Travel + Leisure]

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