As the Web 2.0 Summit a few weeks ago, legendary investor and rock band leaderRoger McNamee talked about his firm Elevation Partners' recent minority investment in Forbes for a few hundred million. McNamee said a key part of his Forbes investment strategy is to be on the ground floor of reinventing business journalism and addressing the information overload problem.
You might have 100 emails and only 2 are important, but nobody know which ones they are, he said. "If you let everything go for six months, you'd find that 98 percent of it doesn't matter," McNamee said. "It will take 10 years in the case of Forbes to reinvent journalism. If you can help people figure out those two items, you will be very rich." My guess is that Elevation Partners isn't going to wait ten years to get its payback, and Forbes won't be the first to solve the attention problem (calling Steve Gillmor and Seth Goldstein) and figure which two items in its database or on the Web are most relevant to an individual at a particular time and place.