I saw an old friend of mine Jason Calcanis, in late 2003 and recently at PCForum. He was the founder of Silicon Alley Reporter. Recently, he has started a blog about blogs-- and a company around blogs-- on the premise that everyone will have a blog one day. That finally woke me up to start thinking more seriously about this subject, as the last time I heard this, it was 1995 and the subject was email.
Of course, for Orson Scott Card novel fans like myself, blogging is old hat.
I am not sure if Jason will find the right dogs to outblog the rest of us, including the entire population of paid journalists and news organizations, and make a living, but heck, I think he's got a shot.

