Just read an article that just came up on the Success of Blogging (for some anyway).

Here’s some excerpts

That’s a lot of inequality for a supposedly democratic medium. Not long ago, Clay Shirky, an instructor at New York University, became interested in this phenomenon—and argued that there is a scientific explanation. Shirky specializes in the social dynamics of the Internet, including “network theory”: a mathematical model of how information travels inside groups of loosely connected people, such as users of the Web.

To analyze the disparities in the blogosphere, Shirky took a sample of 433 blogs. Then he counted an interesting metric: the number of links that pointed toward each site (“inbound” links, as they’re called)…..

When Shirky compiled his analysis of links, he saw that the smaller bloggers’ fears were perfectly correct: There is enormous inequity in the system. A very small number of blogs enjoy hundreds and hundreds of inbound links—the A-list, as it were. But almost all others have very few sites pointing to them. When Shirky sorted the 433 blogs from most linked to least linked and lined them up on a chart, the curve began up high, with the lucky few. But then it quickly fell into a steep dive, flattening off into the distance, where the vast majority of ignored blogs reside. The A-list is teensy, the B-list is bigger, and the C-list is simply massive. In the blogosphere, the biggest audiences—and the advertising revenue they bring—go to a small, elite few. Most bloggers toil in total obscurity.

Power laws are arguably part of the very nature of links. To explain why, Shirky poses a thought experiment: Imagine that 1,000 people were all picking their favorite ten blogs and posting lists of those links. Alice, the first person, would read a few, pick some favorites, and put up a list of links pointing to them. The next person, Bob, is thus incrementally more likely to pick Alice’s favorites and include some of them on his own list. The third person, Carmen, is affected by the choices of the first two, and so on. This repeats until a feedback loop emerges. Those few sites lucky enough to acquire the first linkages grow rapidly off their early success, acquiring more and more visitors in a cascade of popularity. So even if the content among competitors is basically equal, there will still be a tiny few that rise up to form an elite.

It’s a good article to show how profitable Gawker has been - how some bloggers have been; it’s also about the The Haves and Have-Nots of the Blogging Boom.