At the time I was employed, AOL had expanded to far to fast. In the northeast corridor, we were doing fine because you would have 50-60 Patch sites clustered together very closely, it made delivering multi-site programs much easier. In Iowa...you have 9 sites across the state and 3 hours distance between them. It was bad planning on AOL's part.
AOL spent way too much money on friviolous expenses. I watched them throw away thousands of dollars on parties and events that really didn't drive the business forward. As a start up, we should have been operating on a lean budget, but everyone was spending like crazy.
Making $150,000 and only $200,000 doesn't make sense.
Ad units could have been so much better...we NEEDED a retargeting product, we needed a geo-fencing product, we needed more targeted delivery products...4 static banners and a newsletter was tough too sell. I would be sold out on many of my sites would have to sell into other peoples territory