There was a lot of talk this week about techcrunch network, digg.com, paidcontent.org and gigaom etc starting ** publishing 2.0** and reinventing media. I think nothing could be further from the trueth.
There is nothing really innovative being done by any of these sites. What I feel is happening is they are taking time sensitive information about a specific market and displaying it in a optimal way which is a sort of a feed/blog. If you think of a day traders desktop they get a real time news feed scrolling by on their screen, these new networks are just a slowed down version of that.
Much like stock trading, when reading sites such as techcrunch, digg, paidcontent etc it doesn’t really matter if you miss a day. If the information is important enough you will hear about it several times on several sites. Day traders will use information contained in real time news feeds to buy stocks before the general market hears about the news 10 minutes later and make money. In the case of sites like techcrunch, the tech community is sitting around dissecting every site that gets reviewed and is looking for information that can make them more money or give them a competitive advantage that no one else has.
In the future these sites will continue to grow and many online newspapers will be in trouble. CPM rates in a online newspapers technology section will decline as users who are really into this stuff or have the intent of buying will be reading “blogs” like engadget.
I believe newspapers will start to reinvent themselves by going out and aggregating a large number of blogs and repackaging them for consumption. This is basically what digg is doing, the only problem with digg is the content isn’t tailored to a user, its just a collection of stories that someone in the tech industry might be interested in. If you think back to the stock trading example, techcrunch would be like a news feed about a specific stock, and digg.com would be a news feed about the tech industry. When is someone going to create a “news feed” that is tailored to a users interests?