The idea that anyone can be a journalist on the Internet first gained credence when Matt Drudge broke the Clinton sex scandal that Newsweek had but was sitting on at the request of Ken Starr. Newsweek has much more at stake in falsely accusing the president than does Joe Schmo, or in this case, Matt Drudge. Drudge has no editor, no publisher, or no huge corporation that he is owned by. He is not held up to any standards of journalistic integrity by the public. He has nothing to lose but his personal reputation. And what is that really, when people wouldn't know him from Adam if passed on the street?
What Drudge has done, is challenge what is news and how it is presented. The 24-hour news cycle was invented with CNN, but before the Internet it was still much easier for news outlets to verify a story before breaking it. Now that all the major outlets have websites, getting something out there is more important than what gets out. It can very easily be altered once released. As Andrew Shapiro said in The Control Revolution (p. 138),
The fact that it can be modified so easily and imperceptibly prevents it from ever really being a final draft...an author can simply change the text as it appears on the web. The problem is that this ability to make seamless corrections after the fact can create a journalistic atmosphere in which sloppiness and inaccuracy are tolerated. With the pressure to be first to get the story out, the 'publish now, edit later' school of journalism may become widespread.
A great example of online "news" sources vs. Mainstream media occurred during the presidential election. The MSM had agreed not to release exit polls until they were all closed. However Drudge was not in on this agreement, and was one of the first to release the preliminary data around 2 pm, long before much of America had voted. The fact that this data favored Kerry has led many to question whether the early release ultimately hurt him. That this debate even exists is proof of how far the Drudges of the world have come.
Is this really the future of journalism? We can only wait and see.