Michael nails it. Read the whole thing!
I was scoffing to a friend the other day about how web 2.0 had only made it a lot cheaper to build companies with no discernable business model, when I thought to myself: wait a minute... that's really fantastic. Think of it: No "hockey stick" revenue graphs, no powerpoint sleaze, no VCs... ever. Work hard, have fun, maybe even get a little bit rich. Now that's cool.