Yes, Well, Kinda, But . . .

“The Internet, for all its technological dazzle and ambitious individual voices, is still weak on producing revenue.”

—The Wall Street Journal’s Adrian Wooldridge, reviewing Glenn Reynolds’ An Army of Davids.

Absolutely true—in old media terms, in which case you’ve gotta be pornography, the Wall Street Journal, or catering to completely rabidly deranged sports fans to score a buck from consumers.

If you’re not, well, pick an example. I’ll take Josh Marshall, the severely wonky New Democrat who mints serious ad revenue and is growing a mini-empire off his Talking Points Memo.

The counter-argument to that, articulated in Clive Thompson’s interesting but arguably seriously flawed New York Magazine cover story: The blogosphere has already created its hierarchy, and it’s getting almost as hard to break through there as it is elsewhere in media.

Oh yeah—I think major advertisers who’ve been asking can tell you how cheap [cough] prominent front page placement on places like Yahoo and MSN are these days.

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