A Blog Mogul Turns Bearish on Blogs: So it comes as a bit of a surprise that [Nick Denton, the founder of Gawker Media] celebrated a very upbeat stretch in the blogging industry by putting two of his sites on the block, reorganizing others and laying off several people.
Laying off journalists? How very old media.
"Better to sober up now, before the end of the party," he said in announcing the realignment. [...]
"We are becoming a lot more like a traditional media company," Mr. Denton said last week. "You launch a site, you have great hopes for it and it does not grow as much as you wanted. You have to have the discipline to recognize what isn't working and put your money and efforts into those sites that are." [...]
"The barrier to entry in Internet media is low," he said. "The barrier to success is high."
Blog mogul? If one is trying to use a blog format to create a network of websites covering an array of topics, then, there will be hits and there will be flops. No surprise. No bust. No boom. Nick is simply running a business -- and it appears he's running it wisely.
How to spot a true blog mogul: True blog moguls don't explain their business model in newspaper interviews or via TechCrunch or even on their own blogs. They do it on their Flickr account.
