Weinstein's 'Myspace For Millionaires' Was Not The Greatest Idea

Page Six today brings news of a faaabulous bash in St. Tropez on the yacht of Denise Rich, the Clinton pal and wife of disgraced financier Marc Rich. And to help her bring out the real stars to her party, Denise has teamed up with Erik Wachtmeister, who runs A Small World, the much-hyped "Myspace for Millionaires" social networking site for the rich. How symbolic! Two years ago, fading mogul Harvey Weinstein invested in ASW, which got a bunch of press casting both of them as the vanguard of the Next Big Thing. Now, they're more like a coalition of the washed-up.

When Weinstein first made his "significant" investment, A Small World was touted as the place where the rich and powerful would meet online, "friendster for people who self-identify as being dually-based in two large cities with modern Western economies, an abundance of 8-figure real estate and a luxury resort or two."

With the Weinstein Co. on such unstable ground, Harvey sure would have loved to have the insurance of a successful ASW. Just imagine, a site with Facebook's popularity but the demographic profile of the WSJ. It would be a gold mine! Alas,much like Denise Rich, megayachts, and parties in St. Tropez with Naomi Campbell, ASW was overhyped. An illustrative look at how the game-changing site (that's too exclusive for you) has been performing:

Weinstein's 'Myspace For Millionaires' Was Not The Greatest Idea