I had breakfast this morning with a couple of private-equity investors who are looking into the media field. They, like many other people, are wondering what's going on with grassroots journalism.
I said several times (and they concurred) that we need sustainable businesses in this arena, not get-rich-quick schemes like the ones that pervaded the Internet bubble days. There will be such businesses. But I strongly suspect the revenue models won't be much like the ones we relied on in the monopoly-media age.