BusinessWeek Online has just produced a special report on The Social Web, and the best article of the bunch is Jane Black's piece on weblogs, titled, The Wild World of Open Source Media. Jane succinctly describes the thrall of blogging as well as its impact on the wider media world, using Salam Pax and the resignations at the NYT as examples. She did her research as well - discussing diverse viewpoints: from David Weinberger and Glenn Reynolds, Nick Denton to Clay Shirky.
She also writes kindly about Technorati:
It hasn't taken long, however, for the impact of Sifry's software to exceed his harmless narcissism. In the eight months since Technorati appeared, it has become a tool not just for bloggers but for anyone who wants to discover what's on the global agenda.Well, shucks.