Something Awful on the state of the Internet

Lowtax gives his valedictory on the state of the Internet.
Snowball. Gamefan. UGO. Gamecenter. eFront. If you've heard news regarding any of these networks lately, their name was more than likely followed by details of massive layoffs, delayed payments, breaches of contract, or even their imminent demise. Anybody new to the webmaster / gaming scene these days undoubtedly has an overwhelmingly negative view of the entire industry in general, as every single online network is quickly disintegrating under its own bulky weight. Many people simply assume that the Internet and online advertising is simply a failed venture that cannot ever work. However, nobody is asking the more important questions: why has Internet advertising failed? Can any successful advertising model be implemented that will support online entertainment? What is the future of this market? I'd like to take a brief look at these questions and offer my input regarding the current online advertising crisis which is burning through networks like a wildfire.
Along with the failure of many dotcom startups, the future of online advertising remains uncertain. This is a very sobering read.
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