Back in 2006, a startup started up that promised to revolutionize the financial information business. It was called Monitor110, and it had a kind of clever idea: it aggregated and analyzed raw content from all corners of the internet and turned it into useful news and information for traders. Like, message board threads and blog comments and Twitters and Flickrs and Tumblrs and what-have-you would all help measure consumer sentiment or whatever sorts of things traders need to know about. Monitor110 raised millions and millions of dollars and their founders kept saying they'd bury Reuters forever and now, today, they are shuttering because no one wants to give them money anymore. Turns out that 2006 was basically wrong about everything! Crowds are morons and their wisdom is useless noise. Calacanis: right again (after the fact)! [PaidContent]