Turn around! tambako Digg was a super hot startup back during the Web 2.0-era.

There were rumors of $200 million and $300 million offers from big media companies and even Google.

But Digg never took any of those offers and now Digg is going through major layoffs. It's on its third CEO this year.

So when, at a recent Valley event, Jay Adelson opened up about his time as CEO of Digg, we paid attention.

Some interesting tidbits from Jay's interview:

If you're running a startup, it's going to consume your life and really kill your home life.

There were only 2 offers for Digg in 5 years. But he also seems to say Digg never really got an offer. There was "interest," he says, but until you have something on paper, you don't have an offer.

He says "talk is cheap," and getting involved in acquisition talks can take their toll on the company. If you need to send your management away for a week to meet with a suitor that can be a killer.

Adelson thinks he would have gotten a higher valuation for an acquisition if he hadn't attempted to generate revenue. Instead, he insisted on getting sales, which allowed potential acquirers to create a multiple based on those low revenues.

"I don't think Digg is dead," and saying otherwise is insulting to the millions of users on the site every month.

Here's the videos. In the first he talks about running a company. In the second he talks about acquisition talks: