‘Former FT reporter” Tom Foremski has an interesting musing on the shift of media power from East coast to West:

Silicon Valley is rapidly turning into Media Valley--and New York, NY should look out--the capital of the media world is shifting about 3,000 miles westwards.

Some of Silicon Valley’s largest companies are media companies: Google, Yahoo, EBay, for example are media companies--they publish pages of content and advertising around it.

Some of the most interesting and most valuable new Silicon Valley companies, such as Youtube, Facebook are based here in Northern California. So is Craigslist, the seventh largest online media company in the English language world (in terms of traffic).

Take a look at Business 2.0’s 25 startups to watch and look at how many of these mostly “social” media and advertising companies and are based in the Bay Area:18. Only two are based in New York.

But if you work in Manhattan you feel at the center of the media universe. Midtown and the Avenue of the Americas is where the capital of the media industry has sat for many decades.

We find it particularly prescient that Tom classifies several “technology” companies as media companies as soon as you realize their money is made from eyeballs. The media deals would indeed look very different if Google & Ebay were considered media firms. But ‘Old’ media isn’t so blind either, this is why they refer to Google as a “Frenemy.”