Small isn’t the new big. Small is just the old small.

Took the words right out of my mouth.

It’s inevitable that, like decent websites, the cream will rise to the top and cluster to form larger entities… trick is, figuring out where that cluster will form around.

Aye, there’s where the money will be with “small niche online publications” be they blogs or journals.

That is, until you aren’t scared. I read VentureWire every day and I am stunned with amount of venture capital, in big huge gobs, being thrown at new media ideas.

Also, entities like Huffington Post and Federated Media kind of show the “small is the new big” idea to itself be, well, small. Aggregation is still the way to scale, and prosper, whether you are aggregating journalists and journalism and reviews and pretty pictures (say, in EW, or GigaOm) or aggregating blogs (Huff and Federated et. al.) or aggregating personal home pages (ooops, I mean User Generated Content).

Any case, big media companies aren’t going away, nor are big energy companies or big food companies or big anythings. Patricof put in his money to try to get a venture-size return… meaning to hopefully sell the venture (too small for IPO) to (drum roll please) a big media company.

Oh, and I don’t think the nation state is going to wither away either.