EM: Do you think the future for independent media producers is bright? Financially rewarding?

JJ: So bright they'll have to wear shades. Yes, the cost of producing content will decline. But the opportunities will explode. Used to be, you had to know or sleep with somebody on Sixth Avenue or in L.A. to get your shot at getting into print or onto TV. Now all you need is a high-speed modem.

Text media is exploding first. But the fuse was just lit under audio programming with the advent of podcasting (that is, producing content anyone can hear whenever or wherever they want, whether that's recorded on a hard drive today or downloaded from ubiquitous broadband in the future). And next, TV will explode.

Today, it costs hundreds of thousands of dollars to produce a half-hour of, say, a home rehab show. With a decent camera and the tools on a Mac plus some time and talent, you could produce an equivalent show for a few thousand at most. That creates tremendous opportunities. Producers can make shows and distribute them online and eventually, they will be discovered by the big boys, who will be desperate to reduce their costs. But in the meantime, great new sources of programming will explode.