An oversimplification: pg's "job" is to reach smart geeks living anywhere, convince them he knows what he's talking about and then fund the best among them. B

An oversimplification: pg's "job" is to reach smart geeks living anywhere, convince them he knows what he's talking about and then fund the best among them. Blogging = high return on effort. He's reaching many geeks and selling them on his qualifications all at once. Joel's "day job" is managing and encouraging the growth of his (NYC-only) company. Blogging has a lower return on effort because only a small percent would be able/interested in moving to NYC to work for him. Local advertising in NYC would probably provide a better return on his time/money.