Digg CEO cracks under Valleywag pressure

At last night's Founders Club party in New York — an event for the self-important and those of us who fight for invitations to honor them — Digg CEO Jay Adelson finally cracked. "I remember when Valleywag and Digg used to have a good relationship," he told me. "What's happened?" Here's an idea, Jay.

You're upset because we've reported the following. Digg is painfully slow. Its search functions are useless. It employs secret moderators while pretending to be something it's not — a democracy. Users — obnoxiously self-important themselves— tend to revolt every couple months. Top stories don't get covered on Digg, videos of dogs licking your screen do. Digg is easily gamed. And what's more, if you're the right kind of company — one that might buy Digg — Digg will explain how to easily game it. But even then, Digg can't close a deal.

Our guess, Jay, is that what happened is you'd rather us report only good things and not what actually happens. So because I get paid by pageviews and pray at the mighty altar of Digg I'm only happy to comply. Digg plans to launch more customization and analytics features in the coming year.

Rumor has it these new features could increase the value of advertising on Digg from pennies per thousand views it to perhaps even nickels. Expect Digg not to get the $300 million it asked of IAC, but much much more. And for Jay Adelson to finally catch a break.