Silicon Valley impresario John Battelle was convinced his Industry Standard could bring in $1bn a year; the bubble-era tech magazine was bankrupted by his hubris, and the real-estate binge to house the mini-mogul's dreams of media empire. This time round—with a successful online advertising network called FM Publishing which represents sites such as Boing Boing—Battelle has made sure to cash in before the boom ends, reports Valleywag.