Tom Coates has posted an essay based on a speech he gave at a recent Six Apart event. It's entitled The Horseless Carriage...:
This is a slightly rewritten and polished up version of a talk I gave to a Six Apart event (cf. On being on the panel at Blogs in Action) at London's Polish Club a few weeks ago. It's kind of a personal history of and exposition around weblogs and webloggery. This version has had some of the more colourful language removed.
What it also is, beyond the above, is well worth a read. Go to it.
