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The man behind the biggest dotcom failure ever: Where is he now?

Having founding the Borders bookshop chain in the 1970s, Louis Borders was behind the destructive dotcom hypernova WebVan. Is he still blowing billions on crazy ideas?

Having founding the Borders bookshop chain in the 1970s, Louis Borders was behind the destructive dotcom hypernova WebVan. Burning through about a billion dollars in its two-year lifespan, WebVan aimed to deliver groceries across the US on the same day they were ordered from the Web site. And it'd do it within a 30-minute window of the customer's choosing for no cost whatsoever.

That is, until they had to charge. Grandiose expansion eventually belied its declining roster of users, and making them pay for delivery alienated more still. So several months before its cataclysmic implosion, founder and largest WebVan shareholder Louis Borders wisely jumped ship.

Where is he now?

In 2009, Amazon.com resurrected WebVan as an Amazon brand. But Borders has nothing to do with it. Instead, in 2002, he founded KeepMedia -- a news-aggregation site not dissimilar to Google News.

Several years later, Borders became the site's CEO and the service changed its name from KeepMedia to MyWire. MyWire sydicates online content from hundreds of publications -- including our sister site CNET News. But it doesn't display ads.

Instead, Borders believes the money lies within monthly subscriptions for content not available freely elsewhere on the Web. For example, a paid monthly subscription of $5 (about £3.20) will provide access to content from the Associated Press and Oxford University Press.

In an interview with CNET News, Borders explained, "The movie business [gets] two-thirds of their money from their archives, while magazines are getting zero. That's a huge pool of content that's not monetised at all."

Borders also believed that, "Very soon, you'll see that the content that's left to be free [on the Internet] is content that will not be trusted."

That's us hosed then -- he said that in 2003.