Literature for the MySpace Generation

From the Guardian:

Journalists have an appalling track record when it comes to predicting revolution in the publishing industry, particularly when related to new technology. It was only at the turn of the millennium, for instance, that we were confidently forecasting that the rising "e-tide" would wash away the old publishing houses. Electronic books were going to make the traditional ink and paper product seem as ludicrously old-fashioned as Moses's stone tablets. Meanwhile, the free transfer of data on the internet was going to make publishers' distribution networks entirely redundant and loosen their grasp on copyright so completely that most of their revenue streams would dry up.

Read the whole article here.