"Content is something you can run an ad alongside of"

Nice piece by Nora Ephron (And By the Way, the World Is Not Flat) on The History Of Stupid Thinking About The Internet. Bottom line:

Which brings me to this conference on the Internet I attended last week, where it will not surprise you to hear that it was suddenly clear that there were billions of dollars to be made in the Internet from advertising. This is the new conventional wisdom: there’s a lot of advertising money out there, and all you have to do is provide content so that the ads have something to run alongside of. It crossed my mind that the actual definition of “content” for an Internet company was “something you can run an ad alongside of.” I found this a depressing insight, even though my conviction that all conventional wisdom about the Internet turns out to be untrue rescued me somewhat from a slough of despond on the subject.