The easiest way for bloggers to make real money is to transition to a job with an old media company or a tech company. They can build a name and sell it to a sucker, just like their owners and investors are trying to do. Once a blogger builds a personal brand—through scoops or controversy or major stories—they can expect a cushy job at a magazine or start-up desperate for the credibility and buzz that these attributes offer. These lagging companies can then tell shareholders, “See, we’re current!” or “We’re turning things around!”

