For a brief point last spring, some friends and I talked about creating a online content company. We had the writer and editor friends. We had the online creds. But we abandoned the plan after doing a little research. There's basically no demand for good online content. There's lots of demand for crappy content, which will boost a website's google rank.
Because of the high demand for crappy content and the high umployment rate among liberal arts college grads, content farms have opened up. These farms spew out mediocre content for pennies per paragraph. They have been carefully created by programmers to limit human contact between writers, editors, publishers, and clients. It's the first sign of the Apocalypse as far as I'm concerned.
Read this fascinating account of life inside a content farm.
Apt. 11d 
I know a guy who says he makes a small, but steady profit from internet ads using his blogs and (self-written) brief pieces of content. His main tactic is to write brief, semi-informative posts on highly specific topics and to get them up before anybody else. He would be first on a topic by guessing what is likely to come up in the future and doing so in volume.
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There’s a fun novel about this, “How I Became a Famous Novelist”
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