Jeff Jarvis tends to speak of the Internet in hushed, reverent tones, which I find frequently annoying. But he also has some real insight into how online technologies are changing mainstream media and related industries. In a recent post he states:

Distribution is not king.

Content is not king.

Conversation is the kingdom.

His point sounds very similar to one that Shoshana Zuboff and James Maxmin make in The Support Economy: "conversations" and relationships are more important than bare services as we make the transition to from managerial to distributed capitalism.