This is an interesting piece of wisdom from Dave Winer in response to a Jeremy Zawodny post about when blogging will peak. Zawodny writes that the advertising bits are falling into place, to which Dave responds that blogs aren’t peaking but advertising is:

The distinction between blog sites that have ads and those that don’t is probably a bigger distinction than between magazines that have ads and blogs that have ads. A blog without ads is itself an ad, interesting to a small number of people. Blogs with ads, like their print counterparts, strive to be as broad as possible, to reach as many people, and in doing so, lose their value as an ad for the author.