No Gold Rush For Bloggers — And That May Be A Good Thing

Our former colleague Greg Lindsay is fixated with judging the true fiscal value of blogs based on equity and investment. The most recent version of that quest in B2.0 amplifies his idea that people only want to own blogs if they can flip them at some point for lots of money. Blogs aren’t “speculative” — they’re “small business” enterprises. “It’s hard to start a gold rush when no one’s willing to set an initial price for the gold,” he writes. That brings him to John Battelle’s plans to make money off blogging as a service provider for bloggers instead of a blog-creating entrepreneur. Battelle’s seeking seed funds from strategic investors and he’s “open to the idea of selling out one day.” The writer’s conclusion: Battelle’s plans suggest “1) blogs are valuable enough to be worth owning, and 2) he’s inviting the mainstream media to decide what “enough” means in the case of ventures as small as his own.” So much for value based on the little things like advertising flow, reach, intellectual property, etc.
My conclusion: Greg’s view of the blogging-as-business world is awfully narrow. It’s the kind of formula that leads to burst bubbles, not lasting, lucrative ventures. He also assumes that if he can’t see the investing it’s not being done or discussed. As the other editor in my house likes to say, “Assume nothing, presume nothing.”

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