Twilight?: I suspect Daniel Gross was writing his “Twilight of the Blogs” column for Slate with his tongue at least partially in his cheek, so I’m not inclined to spend a lot of time on it.

He argues that the blogging trend is peaking, at least as a business opportunity, and marshals four or five half-assed indicators in the hope that they will add up to a single compelling piece of evidence, which they don’t.

My favorite is the “Magazine Cover Indicator,” the notion that “being plastered on the front of a national magazine is fatal for an investment trend.” Problem with that theory, of course, is that powerful, transformative technologies get featured on magazine covers just as often as passing fads. The simple fact that there’s a magazine cover doesn’t tell us which camp the subject falls into.

Gross also points to the case of Pajamas Media to demonstrate that bad money is now being thrown after good. That’s a little more convincing, because Pajamas has quickly become the laughing stock of the blogosphere—but I don’t think one wrong-headed investment undermines the whole blogging phenomenon, any more than Pets.com meant that companies shouldn’t try to sell their products online.