Uh-oh:  A Blog Mogul Turns Bearish on Blogs in today’s New York Times, by David Carr:

The blogging bubble has been taking on serious air of late. Last week, PaidContent.org, a blog that covers digital media, held its first mixer. It was, by all reports, filled to the brim with money and content guys speed dating on the way to marriage. Nick Denton, the founder of Gawker Media, was there, but he wasn’t looking for love or money. "It made me want to move to Budapest, batten down the hatches and wait for the zombies to run out of food," Mr. Denton said cheerily….

The world does not need more blogs," adding that if you count all the pages on MySpace, "there is approximately one reader for every blog out there."