Richard Rosenblatt shouldn't have much to complain about. The former MySpace CEO made a hefty fortune selling a few startups during the dotcom boom before co-founding Demand Media. But the tech titan still thinks Silicon Valley has punished him for living in Los Angeles.

Yesterday, the blog ad network IndieClick sent an email to clients announcing that it had "chosen to disband" from Demand Media, the online content company that was once touted as the "future of journalism." An industry insider told Valleywag: "There's a shitstorm brewing in ad tech."