Being in China for a week meant that I very luckily avoided the Forbes fracas. Mike Malone, former editor at large for Forbes ASAP mag – the glamour rag Forbes sends subscribers to remind us all what it might be like to have lots of money – has the last word on that Forbes story.
“Let me make a prediction. Five years from now, the blogosphere will have developed into a powerful economic engine that has all but driven newspapers into oblivion, has morphed (thanks to cell phone cameras) into a video medium that challenges television news, and has created a whole new group of major companies and media superstars. Billions of dollars will be made by those prescient enough to either get on board or invest in these companies. At this point, the industry will then undergo its first shakeout, with the loss of perhaps several million blogs though the overall industry will continue to grow at a steady pace.
And, at about that moment, Forbes will announce that the blogosphere is the Next Big Thing for investors.”