Blogs punch way above their weight

Reflecting on last week's BlogWorld Expo, venture capitalist Tim Oren writes:

This is an upstart sector that has discomfited the traditional media - stolen audience, discredited stories and brands, and credibly threatens to build completely new distribution networks. It has meaningfully affected everything from the value of major corporate brands to national military strategies and political campaigns.
...
lesson one: This is a crowd that punches way above its weight.

(Source: Oren's Due Diligence blog; crossposted to Winds of Change.NET.)