What I wrote about warbloggers and business : http://blahsploitation.blogspot.com/20030323blahsploitationarchive.html#91605526
One of the things that makes weblogs so fascinating is that each person has multiple interests. There's plenty of serendipity in reading a blogger because he shares your interest in software, and discovering he also has a passion for hand-made pasta or antiquarian books. You end up learning something about these too.
But the warblogging network is very strong; and attracts a lot of attention. When the war is over, warbloggers will a have a lot of network capital sitting around idly. Meanwhile, when the recession is over, VCs will have a lot of cash looking for investment. The combination of the two may be a significant force.
Contrast : EmilyBell on the success of TheGuardian in the US : http://andrewkeen.typepad.com/aftertv/2006/04/bell.html
See also :