The model for traditional media:

Create content. Create an audience. Sell advertising. Make money.

Adsense has created a model that allows the creation of micro-media companies. Cable created smaller slices in broadcasting. Google has created the potential for even smaller slices online.

Mike Kelley suggests “Soon we’ll have rss files, like stock tickers, calculating the AdSense revenue of popular words.”

Absolutely. What advertisers will pay for eyeballs on-line is going to become more transparent. And individuals are going to have the ability to satisfy that demand.

The business model hasn’t really changes, but the barrier to entry has become almost non-existent.