The Blog 500 Challenge (prize: $50,000 in advertising or $10,000 in cash)

Some background: Having created what became an absurdly powerful 100 list with my last company, Silicon Alley Reporter, Ive seen the controversy, venom, and power such lists can create. Ive got some mixed feelings about them truth be told. These lists are really powerful at building an industry. They help define emerging spaces, and they get new players press, readers, and clients (i.e. advertisers). So, a good list is good, and a bad list is well bad. We have a bad list now and we need a good list