"A few months later global financial markets imploded, a collapse in the economy followed, and suddenly that $850m price tag looked ridiculously large in light of Bebo's deficiencies."
Newsflash! The price looked "ridiculously large" as soon as it was broached. There was never a moment that it looked anything other than "ridiculously large". Or "ridiculously stupid". It would have looked that way had the price been a fraction of $850m.
Too bad AOL didn't have a sanity clause written into the contract: they could have then have Randy "Der Kommissar" Falco* declared mentally (well, and "professionally" too) incompetent, and so voided the contract and annulled the deal - thereby saving themselves huge amounts of money and self-esteem!**
"The couple ... are building a luxury members-only drinking and discussion club in San Francisco..." Might be worth going if - and only if - they can resist the temptation to let themselves join.
*Maybe that was a different "Falco". Not really sure.
** Some people contend that there ain't no sanity clause. In this case they were right, apparently.