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Steve Rubel had an interesting post today about where you should invest your time “contributing” online.

Micro Persuasion: Should You Rent or Buy Social Real Estate?

“Renting” in this context means participating in discussion on someone else’s site (like Twitter). “Owning” means collecting content on your own domain (or blog). From the post:

It seems to me like “renting” online equity is now what’s in vogue. Long-form blogging is less prevalent because the competition for attention from pro-bloggers is steep. That’s why I love the Friendfeed model. It’s like a co-op. I can invest in my blog and realize benefits not only here but also on Friendfeed. Or, I can invest in Twitter and see the same return on Friendfeed, though certain provisions apply. You’re still beholden to the landlord.

I think MyBlogLog had the potential to be a better example than FriendFeed. I’m still enamoured with the idea, and am eagerly awating Google’s Friend Connect.