Business Week, Blogs, and Business

Now that blogs are in the cover of Business Week, you can safely say two things – blogs have gone mainstream, and blogs are over. Yup folks given the history of magazine covers, I think this one is gone. Henry Copeland sums it up when he writes, “Yesterday a friend who runs a hedge fund reminded me of the Wall Street maxim — ‘sell when Business Week’s cover says buy.'”

Go to Paul Kedrosky’s site and check out the 1979 Business Week cover ‘The Death of Equities.’ Henry has more, examples. My colleague Damon Darlin, a man wise in the ways of the magazine covers, writes, “I based these predictions on the theory that magazine covers are some of the best indicators of a trend that is ending, because magazine journalists tend to nab trends at the top.” I attest to that. Qwest – September 2000 – lets take over the world, on the cover of Red Herring. I wrote that piece, and you know what happened.

Anyway Business Week cover means that companies will pay attention to blogs, hire consultants who at best are *dumb* in the ways of blogging, spend millions of dollars, make some people rich and eat into the ever shrinking marketing budgets. A backlash, and hype’s over. After which good corporate blogging will continue.

(Big up to Business Week new blog, BlogSpotting. Hope to be there everyday!)

Roy Schestowitz makes an excellent case of why this whole blog thing might be coming to an end. “Attention is spread among more blogs and hence feeds/spiders account for more of the traffic for most blogs. As more users share content and publishing tools become easier to use, pages become less content-rich or genuine. Increased comment spam and compatibility for the rel=’nofollow’ tag attribute discourage involvement. The symptoms can be spotted already.”

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