Yochai Benkler: The Wealth of Networks:
"The critical shift represented by the networked information economy is that on the order of a billion people on the planet have the physical capacity to produce and communicate information, knowledge, and culture. This means, in the case of writing, millions or tens of millions of people, rather than a few thousand, get to write in ways that are publicly visible. Of necessity, there will be a wide range.
The probability that any newspaper, however well-heeled, will be able to put together the kind of legal analytic brainpower that my friend Jack Balkin has put together on his blog, Balkinization, is zero. They can't afford it. On the other hand, even the Weekly World News is tame and mainstream by comparison to the quirkiness or plain stupidity some people can exhibit. The range is simply larger. That's what it means to have a truly diverse public sphere.
If you want to find evidence of nonsense, as of course it is important to people whose sense of self-worth depends on the special role traditional mass media play in the public sphere, you will easily find it. If you want to find the opposite, that too is simple. What's left is to wait and see over time whether one overwhelms the other. As I wrote in the book, I do not think we are intellectual lemmings. I don't think we jump over the abyss of drivel, but rather that in this environment of plenty we learn to develop our own sense of which is which, and where to find what. Perfect information about all the good things, we won't have. But we don't have it now either. Instead we have new patterns of linking, filtering, recommendation, that allow us to do reasonably well in navigating a much more diverse and interesting information environment than mass media was able to deliver."
This is what scares the crap out of the current gatekeepers to information. A big big change is happening and they have no idea how to control it and monetize it. Because they can't.