Via  Clay Shirky:
Can someone make money by blogs? Clay Shirky in his article says that blogs essentially destroys the intrinsic and extrinsic values of Print Publishing.

Intrinsic  -
It takes  real work to publish anything  in print, and more work  to store,  ship, and  sell it.  Because the  up-front  costs are large,  and because  each  additional copy  generates some  additional cost, the  number of potential publishers is  limited to organizations prepared to support  these costs.  (These are barriers  to entry.) And since it’s  most efficient to  distribute those costs over  the widest possible audience, big publishers  will outperform little ones. (These are economies of scale.)  The cost of print insures that there will be a small number  of publishers, and of those, the big  ones will have a disproportionately large market share.

Weblogs destroy this intrinsic value,  because they are a platform for the unlimited reproduction and distribution of the written word, for a low and  fixed cost. No barriers  to entry, no economies  of scale, no limits on supply.

_Print  publishing also  creates extrinsic  value, as  an  indicator of quality - _Weblogs destroy  this extrinsic value as well.   Print publishing acts as a filter, weblogs do not.   Whatever you want to offer the world – a draft of your novel, your thoughts on the war, your shopping list – you get  to do it, and  any filtering happens after  the fact, through mechanisms  like blogdex  and Google.   Publishing your  writing  in a weblog creates none of the imprimatur of having it published in print.