How the Internet effects your Business

I've written about the demise of newspapers and broadcast television before. Most discussions about the evolution of media sources is tied to the economics that get changed because of the Internet. But I was listening to The B.S. Report: 3/13 this morning, and Bill Simmons and Chuck Klosterman had an interesting discussion about the cultural aspects of why people tend to gravitate towards the Internet. At ~45 minutes, it's worth a listen. And no, you don't have to like sports or know about sports to connect with the discuss.

Beyond the discussion of the need to have information immediately (or gratification immediately), it touches on several issues that we've discussed in StratMktg. How do you react to competing business models? How do your customers perceive value? Can you still create revenue opportunities or provide "perceived value" if your primary product is free?