The Innovation Insider asks if sites like Digg and Slashdot -- community-oriented, citizen journalism news sites -- are the future of media. The article notes that such sites have a Darwinian approach to things; lots of content is submitted, but only the best gets to the top. This creates ego/prestige value for being at the top. The tougher and more competitive the battle, the greater the ego trip.

I agree that this model is the future of media, and I'll even take it a step further and say this will result in the end of corporate business structure as we know it -- open source production strategies need open source organizational structures as well, and as the value of knowledge surpasses that of capital and as the means of production (a computer and Internet connection) become more and more affordable, expect things like LLCs and Ltd's and S-Corps to be replaced by co-ops. To put it intuitively, the future of media won't be done by a traditional company with a traditional payroll -- it'll be done by revenue-sharing alliances and communities.

The formula for executing this is anything but clear. Still lots of opportunity for someone to come in and innovate in this space -- and earn huge profits from doing so.

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