Here’s more:

• Blogging is an interative process that self-corrects and self-fact — which is how it is fundamentally different than traditional media
• Journalists — the best — should go independent, become blogging, embrace self publishing, creating their own brand, and become rock stars in their own right (I’m paraphrasing) ;)
• Explains what he meant by his “the web2.0 needs a downturn” — he remembers the good times when people got together at his house to just have a good time; the “valley” is crowded by PR folk and media folk rather than folk who are interested in creating good applications
• Gives his take on the Engadget publicizing the fake internal memo (and lost billions in market cap) — Mike Arrington would do exactly the same thing if he was in the same position
• If he was running a newspaper today, what would he do?  He might stop printing newspapers, all stories available would be free and without registration, archives would be free; the idea would be so that Google *can* index that stuff so that it would get organic search traffic (and presumably increase pageviews, and thereby improve revenue)
• Has social networking achieved “dynasty” level, with maturation of certain networks? — maybe.  Facebook is rocking the kasbah, MySpace might — but they don’t seem to have a real understanding of what social media / network means … *in spite* of their size, cash, influence and so on.
• “If I say things that are outrageous things?  I make more money” — on why its important to be outrageous, and why its not important to ask him questions or (perhaps) to take him seriously.  “Its good for my business to say things like that”.