It doesn't any more. Om Malik started GigaOm as a blog about networking. Michael Arrington launched TechCrunch as a blog about Silicon Valley. Nick Denton of Gawker Media started all his "publications" as blogs, including Gizmodo, a gadget blog. All these grew into full-fledged tech news sites, each with their own unique point of view, and a personality driving them. They were far from alone. Across the Internet individual journalists took their passions, launched small blogs, then scaled them the way great chefs scale their recipes into restaurants, and then restaurant chains. Cnet is suffering the "death of 1,000 cuts." The suits in New York don't notice any one cut, they barely take notice when top staffers depart, but not all big companies are ignoring the new, personality-driven reality. News Corp.'s ( NWS) Wall Street Journal wisely put its own tech news site, AllthingsD, in front of the paywall, and staffed it with strong personalities like Kara Swisher, Ina Fried and Walter Mossberg, gradually scaling out with other writers to build, within a very short time, a news hole that rivals Cnet's own. In 2012 journalism is an entrepreneurial business, just as it was in the 1850s. It depends on strong personalities, on writers who become editors, then publishers, but who retain their focus. Readers follow them, engineers build communities around them, the traffic builds, the ads come in, and almost before you know it the world has changed. Because the Internet is a business that's so easy to get into, and because clouds let Web sites scale quickly to enormous size, this rapid evolution will continue. It may take years for journalism to become again what it was when I joined it, a collection of institutions, the profession defined by "working for someone who buys ink by the barrel," (or bandwidth by the gigabit). It may take decades. I mentioned at the start of Friday's column that I had a bet with my Medill professors, 35 years ago. I thought the online world would cause journalism to grow, they thought it would make their world collapse. In some ways we both were right, but I truly believe I won the bet. At the time of publication, the author had no investments in companies mentioned in this article. . This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.